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Kolkata, India
The recent slow-down seen in the Chinese economy and due to fall in demand from end users in the European Union and Japan, prices for High Carbon Ferro Chrome of Grade 60%, with carbon content 6-8%, in India has been range-bound, and is currently trading at Rs. 68,000 – 70,000 /MT Ex-Works basis.
SAIL had earlier floated a tender for procurement of HC Ferro Chrome of quantity 15,100 MT for its Durgapur plant, based in the Easter part of India, closing on 9th April 2013. Lowest bid was heard to be awarded at around Rs. 70,700-70,750 per tonne. Rohit Ferro-Tech Limited was the lowest bidder which has offered to supply 7356 MT of HC Ferro Chrome, delivered to site, reported unconfirmed sources.
The price for HC Ferro Chrome is not expected to rise in the short-term with demand side constraints, and is expected to stabilize at a slightly lower level, unless there is growth in the Chinese Stainless Steel production.
China’s Baosteel also cut its purchase price for HC Ferro Chrome in May by 150 Yuan - equivalent to $ 24.37