India: Ferro Chrome Prices Down Owing To Tepid Demand
Ferro Chrome prices have hit the bottom amid low demand in the domestic and global market as well. Prices for Ferro Chrome are falling aggressively amid bearish market sentiments.
Most market participants are now waiting for the Ferro Chrome tenders from major Chinese Stainless Steel mills. Ferro Chrome prices are under tremendous pressure as the market is now majorly dependent on the negotiation levels of the buyers. With the overall Chrome Ore prices coming down, buyers are quite aggressive at trading. Many sellers are reducing their prices to sell the material, which however is pulling down the market. An Indian producer stated that with the bearish Stainless Steel Market conditions, the redemption of prices is highly unlikely.
Domestic price for Ferro Chrome in India is assessed to at around INR 65,000/MT Ex-Jajpur. Export prices for CNF South Korea (10-50mm, HC 60%) is 75 cents/lb, for CNF Japan (10-50mm, HC 60%) is 76 cents/lb and for CNF China (10-150mm, HC 60%) is around 72 cents/lb. No deals took place in Japan and South Korea, and therefore the prices remained unchanged owing to no trade.
Chinese Market:
Ferro Chrome Production in China is still relatively high at the moment, so it is unlikely that Chinese mills will have any concerns about the supply of Ferro Chrome. Ferro Chrome Prices in China have halted for the time being as the sellers are waiting for the next tenders and are not willing to reduce prices to further low. China-based Producer believed that rise in prices is only possible if the major suppliers in China and overseas cut production significantly, but such an event is highly unlikely to occur because the market conditions are bad but it's still operable.
On the future outlook, there is a very little chance of Ferro Chrome market to rebound. Such a scenario is attributed to supply-demand dynamics. Market sources believe that the prices may go further down as some sellers are bringing the prices down by trading at a lower cost. Meanwhile, Indian Producers are waiting for the Chinese tenders.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
