India: FeCr prices dwindle on intense selling pressure
Jul 17, 2020 11:00
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Indian ferro chrome prices fell by INR 500/t in this week due to intense selling pressure on the domestic producers. The demand from China has dried up which resulted in the allocation of more quantity in the domestic market. Since India is a net exporter of ferro chrome, and almost 50% of the production is exported, this situation of near to absent export demand is taking a toll on the Indian chrome alloys producers. The prices are gradually coming down every week and are expected to fall further.
The domestic stainless-steel market has opened but the demand is yet to pick up. In addition to this, many alloys producers might face serious ore shortage as OMC hasn’t conducted ore auctions the past month, and also hasn’t notified for July auctions yet. However, the producers are still pessimistic and