Average weekly decrease in ferrochrome quotations

According to the understanding of West Asia Import and Export Group through its partners in India, due to market reasons, India's local demand for basic alloys is less, and the current price of ferrochrome continues to drop. At the same time, the quotations to China are basically unchanged, and the profit of the quotations is not high.

Indian ferrochrome offers to China are at $1.07-1.08/lb Cr CIF. Due to the unfavorable situation in the Chinese steel market, Indian sellers have little business activity in this market. Moreover, there is limited room for further price cuts, so some suppliers do not quote at all.

For South Korea and Japan, prices fell under pressure from buyers. Ferrochromium quotations fell on average week-on-week. However, due to the full warehouse, only a few buyers sent inquiries, and the negotiations did not necessarily result in a deal.

The situation in the European market remains the same as before. The stock in the consumer library is sufficient, and there is no demand for it. The drop in the price of alloy products was mainly due to the slight reduction in shipping costs, which freed up room for discounts. Within a month, shipping costs dropped by 20%.

Ferrochrome EXW fell in the Indian local market. The price cut is due to poor demand from local stainless producers. Meanwhile, suppliers are skeptical about demand recovery in the short term, so the downward trend is expected to continue.

West Asia Import and Export Group will work with our partners to focus on Indian manganese and chromium products, and bring you more content. If you are interested, please contact us.

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