India: Ferro Chrome Prices Under Pressure Amid Sluggish Market
Indian Ferro Chrome stoops to new low in this week. Prices have been gradually falling down since last month due to low demand. Producers reported that the market is more inclined towards the buyers side.
A few buyers and traders are asking the material at much lower prices. Producers of Ferro Chrome are facing difficult times in the current Stainless Steel market scenario. Prices of Ferro Chrome are continuously falling in China, which is putting a lot of pressure on the Indian Producers. However, a producers stated that they are waiting for the next Ferro Chrome tenders and are optimistic that the prices should not fall further than such low levels.
Demand remains low in both domestic and global market as well. Domestic Prices fell to INR 68,000/MT Ex-Jajpur. Major buyers were interested in procuring the material at much lower levels at INR 65000/MT, but producers reported that such low levels are almost impossible to trade at. Prices in export market also fell by 1cents/lb for Japan and South Korea and were at 80cents/lb CNF South Korea (10-50mm, HC 60%) and CNF Japan (10-50mm, HC 60%). For China the offers were made in a range of 76-77 cents/lb CNF China (10-150mm, HC 60%).
On the future outlook, prices are to remain at similar levels. Producers said that any further fall is highly unlikely, but are also pessimistic about any redemption of prices. Producers are also waiting for the next Chinese Ferro Chrome tenders which may put an impact on the Indian market.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Resolute Mining says it will pay Mali $160 million in tax dispute
Gold loses some luster after Trump’s decisive win
BHP to spend up to $14 billion on Chilean copper expansion
Trump chooses oil fracking boss as energy secretary
Newmont sells Ontario gold mine to Orla for $850 million
South Africa police standoff with illegal gold miners escalates
BHP warns Australian mining not ready for low-cost competitors
Filo expands copper-gold Aurora zone in Argentina amid sale
Mining’s old guard needs strong medicine
Adani’s Australian coal unit faces human rights complaint
Hedge funds slash bullish wagers on gold before war jitters
Gold price set for biggest weekly jump in 20 months on haven demand
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Filo expands copper-gold Aurora zone in Argentina amid sale
Mining’s old guard needs strong medicine
Adani’s Australian coal unit faces human rights complaint
Gold price set for biggest weekly jump in 20 months on haven demand
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence