UTC+8 ( BJT)

India: Higher FeCr prices find acceptance in the market

ABSTRACT

Indian ferro chrome prices increased significantly by INR 6,500/tonne (t) week-on-week (w-o-w) to INR 92,000/t after Vedanta’s ferro chrome auctions held late last week. In the exports market as well, the smelters increased their offers to cents 93/lb for CNF China, but deals are yet to be concluded. Buying interest from China is dull.
Prices increase in the domestic market. Vedanta auctions establish higher prices. Supply crunch prevails. Chinese demand lags behind Prices likely to be short-lived. Vedanta’s auctions have set the tone for the domestic market. Initially, the market remained bearish, with most buyers expecting prices to go down. However, due to supply shortage in the market,

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