India: Ferro chrome prices climb to 8-month high

Indian ferro chrome producers have increased their offers yet again this week. Although there is strong demand in the market, the majority of buyers are waiting for FACOR's ferro chrome auction on 2 February, 2023 to get a clear picture.

In addition, sentiments remain supported after the Chinese stainless steel mills' tenders declared hike in purchase prices for February. According to SteelMint's assessment on 2 February, producers' offers were hovering at INR 116,000-117,000/t exw-Jajpur, with limited bookings being recorded in the domestic market this week. However, producers were holding back their