High Carbon Ferro chrome prices in India remain stable amid slow demand and low availability.
Domestic price for High Carbon Ferro chrome is unchanged from last week. The mainstream price of HC Ferro chrome 60% min is hovering in the range of INR 68,500-69,000/MT (ex-works, Odisha).
A producer source remarked, “Our feeling is that prices will remain more or less stable now as buying activity is pretty sporadic still.”
Japanese Market
Spot price for 60% grade HC Ferro chrome stood at 86-88 cents/lb, CIF Japan; unchanged for the 6th week amid thin trade.
Buying interest has been limited to fines and high-grade material with low phosphorous content this week, revealed a producer source from India.
Few other participants believe Japanese mills now might decide to postpone the purchase due to poor demand for stainless steel.
Chinese Market
The spot price of South African-origin charge chrome (48-52% Cr) stood at 78-79 cents/lb, CIF China; unchanged W-o-W on support from supply tightness in China’s domestic market.
An Indian producer source said Chinese customers had reported charge chrome deals at 78-79 cent/lb, CIF this week.
The spot price of Indian-origin HC Ferrochrome (58-60% Cr) was assessed at 81-82 cents/lb, CIF China; unchanged W-o-W with a lack of price indications in the market on limited spot material for sale from India. An Indian producer source said buying interest from Chinese customers was around 80 cents/lb; CIF but sell idea is above 80 cents/lb.
Sources highlighted of rising inquiries from China. However, deals were not plentiful as buyers’ price expectations remained conservative with liquidity tight among Chinese companies before Chinese New Year holidays (19-25 Feb, 2015).
“We may have to wait till end-February (for bookings),” said the Indian producer source.
Exchange Rate : USD 1 = INR 61.36
Leave a Reply