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India: FeCr offers up after ore prices touch 2-year high

Indian ferro chrome market is plagued with uncertainty as the producers of ferro chrome withdrew their offers from the market after OMC auctions. Chrome ore was booked at an average of 16% higher than the set base prices, and the base prices were also increased by 45% w.r.t. May’ 20.
One of the major producers remarked on the rising cost of production, "The cost of ferro chrome has to reach much higher, and the prices of below INR 70,000/t will be history now. As for the producers who are solely dependent on OMC, their raw material costing will only increase


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