Ferro chrome prices turn hot, increase 46%
January 27, 2021
Ferro chrome is used in the production of stainless steel - Udit Kulshrestha×
Prices firm up on the back of pent-up demand from stainless steel industry and due to South Africa’s likely export duty Ferro chrome (ferrochromium) prices in the country have firmed up by nearly 46 per cent over the last 2-3 months on the back of reduced raw material supply and an anticipation of a pick-up in demand from the stainless steel industry.
Prices are currently ruling at around ₹95,000 a tonne, as against ₹60,000-65,000 a tonne in September-October, 2020. Production of chrome ore, which goes into making ferro chrome, was impacted due to Covid-induced lockdown which consequently pushed up prices of ferro chrome, said industry experts.