India: Ferro-chrome prices fall as demand dries up
Jun 19, 2020 11:00
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Indian ferro-chrome prices had risen in the past few weeks after the Chinese ferro-chrome purchase tender prices were released. However, the prices have corrected due to the dull demand at both fronts - domestic and export markets. The Chinese demand for ferro-chrome has slowed down, after the spurts in demand witnessed in the earlier weeks of May. Most producers sold material through traders or merchant exporters and were not offering much quantity in the domestic market. However, there is still a lot of quantity from the major producers that are dependent on the domestic market, but the stainless-steel mills are yet to start operations. The overflow of supply has dragged down the prices of ferro-chrome in the domestic market.
This week the chrome ore prices fell marginally at the Chinese ports. This also dragged down the prices of ferro-chrome in the Chinese market. The buying is almost near to absent this week due to a confluence of factors as the Chinese market is flooded with Indian ferro-chrome and