Indian ferrochrome prices spiked substantially in the past two months on the back of bullish sentiments in the Chinese market. Prices of ferrochrome have been stable for the past two weeks, in line with firm chrome ore prices and circumspect buying interest from the Stainless-steel producers, both in the domestic and export markets.
Subdued buying interest is due to a confluence of following factors:
Chinese tender prices are expected to go down
tender prices are expected to go down amidst weakening stainless steel
prices. Though the supply gap of ferrochrome still remains the same,
with the recent fall in Nickel prices (LME: $16,131/t), the