India: FeCr prices up on lower output and better demand
Aug 21, 2020 11:00
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Most of the Indian ferro chrome producers are out of chrome ore supply, as OMC has not conducted its monthly auctions since May-20. OMC and TATA Steel, both of the major miners are either producing at much lower capacity or not producing chrome ore and can only fulfil the previous orders. On top of that, the stainless steel demand is strong, thus higher prices of stainless steel and scarcity of chrome ore are pulling up the prices of ferro chrome.
Ferro Chrome prices went up by INR 500/t due to a pickup in demand along with limited production of the alloy due to chrome ore shortage. SteelMint assessed ferro chrome prices at around INR 62,000-63,000/t from Jajpur producers and further INR 1,000/t higher from the Durgapur producers. However, few