India: FeCr prices down INR 500/t on Chinese correction
Aug 10, 2020 10:00
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Indian ferro chrome price has reduced marginally owing to rising selling pressure on the domestic producers. The shrink in demand from China has led to the allocation of greater quantity in the domestic market. Since, India relies heavily on export of ferro chrome, with almost 50% of the production exported, this situation of zero export demand is taking a toll on the Indian ferro chrome producers.
Chrome ore from TATA Steel and OMC both are out of the market for the past two months. OMC is only fulfilling its earlier auction commitments. However, this supply shortage of chrome ore hasn't had much impact in terms of prices yet, as many smaller producers are either not operating