Domestic offer price for High Carbon Ferro Chrome is unchanged from last week. The mainstream price of HC Ferro Chrome 60% min. is between INR 62,000-63,000/MT (Ex-Works Odisha). A producer source remarked “Our feeling is that prices will come down slightly before it stabilizes since the demand and prices from overseas markets are on a downtrend, but we can’t say exactly how the market will react.”
Prices for ferro chrome remained unchanged, with Indian producers resisting any cut-back in offers.
Two Chinese steelmakers lowered July purchase prices for high-carbon ferro chrome
Meanwhile, Indian producers have lowered offers by 1-2 cents/lb from the previous week. China’s Baosteel decreased its July purchase price to Yuan 6,130/MT (71 cents/lb) from RMB 6,280/MT the previous month. Another steelmaker, Tsingshan, also lowered its July purchase price to Yuan 6,127/MT from RMB 6,278/MT. One Indian producer said he was offering at 73 cents/lb CIF China and deals were no longer possible at 75 cents/lb CIF.
Japan’s spot import price was assessed at 74 cents/lb CIF Japan, down from 75-76 cents/lb CIF a week ago. “Buyers base their ideas on the Chinese mills’ prices, so it is difficult to see prices moving sideways,” one Japanese trader said.
International traders, are not in a hurry to buy as they are expecting a further fall in prices, although decrease in the Chinese mills’ purchase prices were marginal.
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