Indian Ferro Chrome Offers to China Find Acceptability after Going Higher
Indian Ferro Chrome prices remains unchanged in the domestic market amid sluggish market conditions. However, prices in the global market have risen.
Producers in India are offering Ferro Chrome in the domestic market at INR 74000/MT. Export prices for South Korea and Japan are at 83 cents /lb and 84 cents/lb CNF respectively. However, offer prices for China were up to 82 cents/lb CNF China, although a few producers are quoting at even higher prices.
Chinese market:
Ferro Chrome and Chrome Ore Prices have escalated in China amid a bullish market, following an increase in the alloy tender prices and power constraints in two major producing areas. Moreover, the Chinese currency has also appreciated, which gives Chinese producers scope for importing at slightly higher prices. However, this ascendance in Chinese prices has not yet influenced other buyer countries like Europe, Japan and Korea.
On the future outlook, Global buyers are likely to follow the Chinese market movement and global Ferro Chrome prices are expected to go up in line with Chinese Prices. Indian producers are also trying to push up the prices, but due to the buyer pressure, the prices are firm.
source: SteelMint
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