NEWS
IRON and STEEL   NON-FERROUS  

India: Lack of Triggers to Pull Ferro Chrome Prices Up

Indian Ferro Chrome prices are down for the third straight week owing to persistent low demand.

Ferro Chrome prices are under pressure worldwide. Producers reported that the gains in Stainless Steel prices since Nov’18 are all lost and the current stainless steel market is making the Ferro Chrome producers highly pessimistic about their product in the market.

SteelMint assessed that market participants are waiting for the Chinese Stainless Steel mills to declare the Tender price for May, and the Chinese buyers have stopped procuring material at any price. Most market participants expect the purchase prices to be down by 300 RMB/MT. Producers in India are concerned as the Shutdown will be inevitable, if the Ferro Chrome prices in China is reduced and the Chrome ore prices remains stable in the next auction. With the falling Ferro Chrome prices, the margin of profit is highly reduced. Major producers believe that the prices should come down in the next round of Chrome Ore auction.

Domestic prices for Ferro Chrome in India is assessed to be in the range of INR 72,500 - 73,000/MT. Export prices for CNF South Korea (10-50mm, HC 60%) is 84 cents/lb, for CNF Japan(10-50mm, HC 60%) is 85 cents/lb and for CNF China(10-150mm, HC 60%) is around 81 cents/lb.

On the future outlook, there is a very little chance of market to stabilize in the near future. Any comments can be made only after the Chrome ore Auctions. Chrome Ore prices are keeping the producers far away from optimism.

News No: 4425
Date: 2019/05/06 - 14:39
News Source: SteelMint

India  Ferro Chrome  CNF  South Korea  Stainless Steel 

Comments:

Leave a Comment:

   
   
   
 

India: Raipur Pellet Prices Hit 3-Month High

Pellet offers for this week increased sharply in the recently concluded deals. SteelMint’s assessment stands at INR 6,900-7,000/MT (ex-Raipur, GST extra) against last week’s assessment of INR 6,600/MT. Current prices are hovering at 3-month high.
 

Indian Sponge Iron Prices to Likely to Remain Strong - Manufacturers

Sponge iron market seems to remain strong, as per manufacturers in central & eastern India. Rising raw material prices & active demand are likely to keep Indian sponge iron prices supported, they added.
 

Daily Update: Indian Semis Offers Rise Further

Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.
 

Imported HRC Prices to India Decline in Recent Booking from Japan

SteelMint in conversation with market participants learned that Indian HRC import prices from Japan reported decline by USD 15-20/MT in recent booking for July shipments.
 

India: Karnataka Govt Invites Bid for 4 Iron Ore Blocks

Department of Mines and Geology (Govt. of Karnataka) has floated the tender for auctioning of 4 iron ore blocks in Karnataka for its 4th phase.
 

India: Silico Manganese Prices In Raipur Tread Lower Amid Lacklustre Market

Indian Silico Manganese Prices are under pressure due to various factors as it is highly dependent on the inventory level possessed by the producer and the region they are offering from and also the grade quality.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners