India: Ferro Chrome Prices Remain Flat Amid Depressed Market Conditions
Indian Ferro Chrome Prices are at almost the same levels as last week. Ferro Chrome prices have hit the bottom amid low demand, both in the domestic as well as the global market.
Prices for Ferro Chrome have been falling aggressively amid bearish market sentiments. Producer sources revealed that most plants are selling below their Cost price. Producers are trying to maintain the prices, but few producers are underselling to compensate with the selling pressure. SteelMint learned that plant shutdown cannot be ruled out unless producers can procure Chrome Ore at much more reasonable levels.
Domestic price for Ferro Chrome in India is assessed to at around INR 64,000 - 65,000/MT Ex-Jajpur. Export prices for CNF South Korea (10-50mm, HC 60%) is 74 cents/lb, for CNF Japan (10-50mm, HC 60%) is 75 cents/lb and for CNF China (10-150mm, HC 60%) is around 70 cents/lb. Market sources confirmed that despite reduced prices, the demand in the domestic market is moderate and inquiries from export market remain low.
On the future outlook, it is highly unlikely that the Ferro Chrome market will rebound in the coming month. Such a scenario is attributed to supply-demand dynamics. Chinese Producers are sitting with high inventory and owing to the sluggish Stainless Steel Market conditions, redemption looks unlikely anytime soon. Market sources believe that the prices may continue to be at such levels, as there is no further room to reduce prices. Meanwhile, it is important to keep an eye on the Chinese tender prices for July purchase, as that will set the tone for the month.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years