India: FeMn, FeCr drop on weak demand

摘要

Indian ferro-manganese and ferro-chrome prices moved down on low demand from the steel sector. Ferro-chrome Prices for 60pc grade alloy fell to Rs108,000-110,000/t ex-works today down from the upper end of the range at Rs98,000-111,000/t ex-works on 7 December as weak export demand triggered a sell-off in the domestic market. Demand from China remained weak because of reduced buying interest from the stainless steel sector and higher domestic alloy production, which resulted in increased unsold inventories. Domestic demand from steel consuming sectors, although moderate, has not picked up as expected after the monsoon season, market participants noted.