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
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
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
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
