Indian ferro chrome prices strengthened again this week on tight domestic supply emboldened sellers to increase their offer levels.
Ferro chrome prices soared this week on limited availability in the market. SteelMint assessed ferro chrome 60% at INR 69,000/MT (Ex-Odisha), up by INR 2,000/MT from last week’s price.
A producer source from Odisha remarked, “Generally speaking most ferro chrome producers are don’t have enough stocks to offer, and most steel mills would be willing to purchase at the current price, as demand has also picked up.”
Sentiment seems to be positive in the ferro chrome market and will likely be steady in the coming week too.
Indian Ferro Chrome Export Prices Rises
Ferro chrome export prices have gained substantially as demand from Chinese importers increase.
SteelMint assessed 58-60% high-carbon ferro chrome at 74-75 cents/lb CIF China, up from 69 cents/lb two weeks ago.
No deals could be confirmed for Japan and Europe as difference in price ideas continued to remain between buyers and sellers. A producer from India said buyers were only keen to procure Indian ferro chrome at 75 cents/lb CIF Japan. However, as Indian producers have limited stock to offer, they are in no rush to conclude deals.
Exchange Rate: USD 1 = INR 67
Leave a Reply