India: FeCr Producers Face Intense Selling Pressure

Indian Ferro Chrome prices came down marginally W-o-W amid intense selling pressure on the absent export market. Ferro Chrome Smelters have had to allocate more quantity in the domestic market which has created a situation of oversupply in the domestic market. Producers reported that the buyers are inquiring for Ferro Chrome but asking the material at much lower prices.

In the domestic market, Ferro Chrome Prices are assessed to be at around INR 61,000-62,000/MT Ex-Jajpur. Meanwhile, it is also heard that the buyers are showing interest at even lower prices, and acceptance for the same is still lagging. In the export market, the prices remain unchanged. Offers for CNF South Korea (10-50