On May 23, SteelOrbis reported Indian domestic ferrochrome (HC 60 percent) prices at INR 68,000-68,500/mt ($976-983/mt) ex-works.
Previously on April 25, SteelOrbis reported prices at INR 72,800-73,100/mt ($1,036-1,040/mt) ex-works. Now on May 29, sources inform SteelOrbis that prices have ticked down further to INR 67,000-67,500/mt ($960-967/mt) ex-works. Compared to slightly over a month ago prices decreased $76/mt from the bottom of the previous range and $73/mt from the top of the same range. Over the past week, prices declined $16/mt from the bottom and top of the respective range.
The price decrease is attributed to continued limited market demand.
USD = INR 70.26 (Apr 25)
USD = INR 69.67 (May 23)
USD = INR 69.80 (May 29)