India: Bids drop at Vedanta-FACOR's ferro chrome auction as market remains under pressure
At Vedanta-FACOR's ferro chrome auction today, the larger lot of 10-150 mm received an H1 price of INR 99,200/t exw, a drop of INR 4,440/t from the previous auction on 20 Dec'24. Factors which likely contributed to this price drop are bid-offer gaps, reduced stainless steel demand and lower tender prices in China.