India: FeCr prices down on demand-supply mismatch
Jul 24, 2020 10:00
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Indian ferro chrome prices are down by INR 500/t w-o-w due to intense selling pressure with producers trying to clear their inventories in this downtrend market, where oversupply has hit the market hard and demand from the export market has dried up too.
The prices are gradually coming down every week and could fall further. The domestic stainless-steel market has started operating but the demand is yet to pick up. Meanwhile, OMC hasn't conducted chrome ore auctions in the month gone by and also hasn't notified for July auctions yet. This might create