India: Ferro Chrome Prices Fall For Fifth Week In a Row

Indian Ferro Chrome prices fell again for consecutively five weeks in line with lacklustre stainless steel demand, prompting Stainless Steel producers to reduce production, and thereby adversely affecting demand for Ferro Chrome.

Producers reported that the market is more inclined towards the buyers’ side. Buyers are trying to bring market down as they are demanding material at much lower levels. Demand is also very low in the domestic as well as global market. Market participants believe that with China lowering down the prices, there is a pressure developing on the producers to lower prices further down. However, manufacturers are waiting for the upcoming Chrome Ore Auctions which were postponed to 17th May due to Cyclone Fani, and see if their cost of production comes down.

Domestic price for Ferro Chrome in India is assessed to be at INR 70,000/MT Ex-Jajpur. Export prices for CNF South Korea (10-50mm, HC 60%) is 81 cents/lb, for CNF Japan (10-50mm, HC 60%) is 82 cents/lb and for CNF China (10-150mm, HC 60%) is around 80 cents/lb.

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

News No: 4516
Date: 2019/05/14 - 15:09
News Source: SteelMint

India  Ferro Chrome  steel  CNF Japan  China 


Leave a Comment:


Malaysia allows Lynas to continue operating rare earths plant for six months

Malaysia has granted Australia’s Lynas Corp (ASX: LYC) an extension on its operating licence for a rare earths processing plant, subject to various conditions and valid only for six months, keeping alive concerns about the miner’s fate in the Southeast Asian country.

Coal’s last healthy market fades as trade woes weigh on steel

One of the few remaining bulwarks propping up the US coal industry is languishing.

India: SAIL Reduces Pig Iron Offers for August Deliveries

Steel Authority of India Ltd (SAIL) has reduced basic grade (steel grade) pig iron offers by around INR 700/MT (USD 10) from its Bhilai Steel Plant (BSP) based in Central India, SteelMint learned from market sources.

India: Imported Scrap Market Turns Silent, Domestic Scrap Remains Preference

Imported scrap offers to South Asia plunge below 2 years low levels on limited demand

Indian Iron Ore Exports Up 19% in July’19

Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.

India's Scrapped Ship Import Volume Increases 33% in July

Alang - Gujarat, has registered sharp growth in imports of scrapped ships in Jul'19 and the volume reached 7 months high since Dec'18, as per custom data maintained by SteelMint.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners