NEWS
NON-FERROUS  

Indian Ferro Chrome Prices Resurges Amid Improved Chinese Market Conditions

Indian Ferro Chrome prices increased amid improved global market conditions. In China, there is decrease in VAT rates – from 16% to 13% which would have been effective from 1st Apr’19, but the notification is still awaited.

Therefore, the buyers are showing reluctance in buying any stock further as the prices in the domestic market would reduce once the VAT is down at 13%. However, in South Africa, power tariffs are going up and the supply is going down. With the depiction of supply tightness in the global market in the upcoming period Indian producers have raised their offers in the market.

Domestic prices for Ferro Chrome in India is assessed to be in the range of INR 74,000/MT to INR 75,000/MT. Export prices for CNF South Korea (10-50mm, HC 60%) is 86 cents/lb, for CNF Japan(10-50mm, HC 60%) is 87 cents/lb and for CNF China(10-150mm, HC 60%) is around 84-84 cents/lb.

On the future outlook, global buyers are likely to follow the Chinese market and global Ferro Chrome prices are expected to go up in line with Chinese Prices. Indian producers are also trying to push up the prices on higher Chrome Ore prices in India and tighter Ferro Chrome supply expected in the coming days from South Africa.

News No: 4235
Date: 2019/04/08 - 08:28
News Source: SteelMint

Indian  Ferro Chrome  Chinese  global market  South Africa 

Comments:

Leave a Comment:

   
   
   
 

Chinese Steel Market Highlights- Week 24, 2019

This week Chinese steel market witnessed decline in domestic steel prices over volatile futures. However nation’s export offers continued to remain subdued owing to softening demand in global market.
 

Indian Steel Market Weekly Snapshot

Indian steel prices moved down-trend during the Week-24 (8-15th Jun'19) on demand concern amid healthier supply. The producers seems received limited response as offers continued on negative direction.
 

Indian Sponge Iron Export Prices Fall in Recent Deals

Amid falling Indian domestic sponge prices & decline in Bangladesh imported scrap prices, Indian sponge iron export offers have come down by USD 10-15/MT in recent deals reported, as per assessment made by SteelMint.
 

Chinese Crude Steel Output Hits Record High in May’19

As per the recent data released by NBS (National Bureau of Statistics), Chinese crude steel output records new high in May’19 at 89.09 MnT.
 

Indian Steel Ministry Proposes Port of Entry Restrictions to Curb Imports

Aimed at restricting imports through yet another non-tariff measure, the steel ministry has solicited introduction of port of entry restrictions for scrap and second hand or defective steels.
 

Chinese Mills Raise Bids for Indian Pellets; Deals Reported

SteelMint in conversation Indian pellet makers and other market participants analyzed that bids for Indian pellets have witnessed increment this week. Following surge in global iron ore fines price, pellet export prices has also strengthened this week.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners