India: Ferro Chrome Prices Stable Owing to Low Demand in the Domestic Market

Indian Ferro Chrome prices are stable amidst low demand in the domestic market. Producers are concerned over the lacklustre Stainless steel market, as until the prices for Stainless Steel picks up, the hope for Ferro Chrome market remains dented. However, Indian Ferro Chrome prices could find some support from the rising Chinese Ferro Chrome prices (amid low supply of Chrome Ore from South Africa).

The prices for Indian Ferro Chrome assessed by Steelmint is as follows:
Ex-Jajpur: INR 62,000/MT
CNF China: cents 65/lb
CNF Japan: cents 68/lb
CNF South Korea: cents 67/lb

Outlook
Producers in the domestic market are facing cash flow issues and therefore there might be some deals below the standard prices. Moreover, Market experts believe that until and unless stainless steel market revives there is very little hope for the Ferro Chrome market to sustain any positive price increments. In the near term future, the increased Chinese prices may be the only support for the domestic prices.