Indian High Carbon Ferro Chrome prices drop slightly

Price of HC Ferro Chrome of grade 60%, with carbon content of 6-8% have come down slightly in the Indian domestic market, on a marginal decrease in demand and reduction in Stainless Steel prices in the global market.

Domestic offers for HC Ferro Chrome are in the range of Rs. 68,500–70,000 /MT, which was being offered at Rs 70,000–71,000/MT earlier in the month.  HC Ferro Chrome (60%) is currently offered at Rs 70,000/Mt (Ex-Raigarh), Rs 69,000–70,000/MT (Ex-Odisha), and Rs 68,500–69,500 (Ex-Vizag).It is to be noted that OMC’s recent e-auction received lower bids and prices fell by 18-20%, as reported earlier.

Export offers for HC Ferro Chrome (Grade 60%) currently stand at 0.96 – 0.98 USD/Lb CIF China. However, it will be difficult for Indian suppliers to find any buyers at this price, as it is reported that Chinese HC Ferro Chrome (50% Grade) is available from domestic producers at a substantially lesser price. One of the largest producers and exporters of Ferro Chrome from India revealed to SteelMint, “Demand from China is quite sluggish, and so we are not producing Ferro Chrome at the moment.”