India: Downtrend in bids continues at Vedanta-FACOR's ferro chrome auction
At Vedanta-FACOR's ferro chrome auction today, the larger lot of 10-150 mm fetched an H1 price of INR 103,600/t exw, reflecting a decrease of INR 1,900/t from 2 Dec. Notably, bids have declined over the last 4 auctions since 30 Sep. The latest drop may be attributed to reduced bids at OMC's recent chrome ore auction and weaker demand from China, driven by lower tender prices.