UTC+8 ( BJT)

India FeCr price under pressure on less buying interest

ABSTRACT

Indian ferrochrome scenario is faced with adverse market conditions as the spot overseas demand is very low and the domestic buyers are pushing for lower prices. Most market participants anticipate a further fall in ferrochrome prices and are waiting for the OMC auctions and next month’s Chinese tender prices to be released.
Currently, ferrochrome prices are assessed at INR 89,000/t for Ex-Jajpur. However, export demand remains muted with almost nil spot inquiries from China, which is traditionally the biggest export market for Indian ferrochrome. Key Highlights: Stainless steel market remains bearish Stainless steel smelters are wishing to hold back their procurements and not order large

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