keywords :
Due to strong export and domestic market demand, the price of ferrochrome in India rose by 2,700 rupees/ton. Meanwhile, Vedanta's ferrochrome auction ended on October 10 at a price 5% higher than the benchmark price. Therefore, the positive response to the Vedanta auction also supported the price of ferrochrome. The manufacturer's quotation is about 99,000-100,000 rupees/ton in local Indian market, depending on the availability of inventory. At these levels, the domestic market booked about 4,500 tons.
The demand for FeCr in the domestic market has improved. As the price is expected to rise further, the buyer began to actively float the inquiry and book materials. As a result, the price of ferrochrome has risen. Export demand also mainly comes from China. The ferrochrome market is accepting inquiries from exporters. Chinese buyers increased their buying efforts. The manufacturer began to supply goods to China at the price of about 95 cents/pound (CIF China), a year-on-year increase of 4%.