Indian Ferrochrome Price Decline Again

Ferrochrome prices in India fell due to lower Chinese quotations and still weak demand, including in the domestic market, where demand remains moderate. Only offers to Europe remained stable.

Indian high-carbon ferrochrome (60%Cr; 6-8%C; 4%Si) is being offered to Chinese buyers at CIF US$1.01-1.02/lb/Cr , down CIF US$0.015/lb/Cr on a week-on-week basis. Some sellers are still receiving inquiries from China, but due to falling prices in the Chinese domestic market, inquiries are becoming less and less, so many buyers are also holding a wait-and-see attitude towards imported materials.

South Korea and Japan have shown little interest in buying Indian ferrochrome, mainly because of the weak local stainless steel market. Offers for them were at CIF $1.07-1.09 Cr.

European buyers are also taking a wait-and-see attitude, expecting further price adjustments due to the situation in the global ferrochrome market, especially in China. Offers from Indian suppliers have not changed over the past week. Alloys (1.5% Si) are quoted at $1.22-1.24 Cr CIF, alloys (2% Si) are quoted at $1.18-1.19/lb Cr CIF, and alloys (3% Si) are quoted at $1.1-1.11/lb Cr CIF.