Weaker Demand Leads to Lower Bids at Facor Ferro-Chrome Auction

Ferro-Chrome India

The January ferro-chrome auction conducted by Vedanta-Ferro Alloy (Facor) in India witnessed a substantial decrease in bids, signaling weaker demand in both domestic and export markets. Facor offered two lots of 10-150mm 60% grade ferro-chrome and one lot of ferro-chrome chips.

Auction Results Indicate Market Pressures

The larger lot of ferro-chrome saw bids at Rs 99,200/tonne ex-works, a notable reduction of Rs 4,440/tonne from the December auction. The smaller lot was sold at Rs 99,800/tonne ex-works. Bids for the 10-20mm ferro-chrome chips reached Rs 95,800/tonne ex-works. These lower bids reflect the softening demand for ferro-chrome, a key ingredient in stainless steel production. The results of this auction highlight the challenges faced by ferro-chrome producers in the current market environment.