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India: Ferro Chrome prices remain stable W-o-W

Indian Ferro Chrome prices remained stable at INR 66,000/t despite dull demand in the domestic market. Stainless Steel mills are still abstaining from procuring Ferro Chrome as the market is yet to pick up in India. However, the demand from China remains good and most of the deals are being concluded in the export market either directly or through merchant exporters. Producers have increased the prices last week in line with the increased Chinese spot prices for Ferro Chrome which was further supported by the increased tender prices from major Stainless-steel mills in China.
The prices for Ferro Chrome assessed by SteelMint are as follows: Ex-Jajpur: INR 66,000/t, CNF China: cents 71/lb, CNF Japan: cents 73/lb, and CNF South Korea: cents 72/lb. Chrome Ore UG2 prices remained comparatively stable in line with the tepid demand from China. However, it is largely dependent on the state of supply from South Africa.

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