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Print[Ferro-Alloys.com]It was acknowledged that the spot price of high-carbon lumpy ferrochrome imported into Japan has edged up to 88-91 cents/lb CIF Japan from 86-90 cents/lb a week ago, as Indian producers rejected lower bids.
This was for Indian-origin high-carbon lumpy ferrochrome (60-65% chrome, maximum 8% carbon, 2% silicon). There was no deal, offer or bid reported from Japanese companies as they were shut for New Year holidays. And Indian producers rejecting bids at 87 cents/lb CIF South Korea and 90 cents/lb CIF Rotterdam, both for 500-mt cargoes were also taken into account.
In addition, Japanese steelmaker Nippon Steel & Sumikin Stainless last month accepted a 2% raise in the quarterly contract price for South Africa-origin 55% lumpy high carbon ferrochrome. The price for the current quarter was set at 120.50 cents/lb CIF Japan.
South Korean traders said Indian producers were offering 92-94 cents/lb CIF for January shipments this week. A month ago, offers were below 90 cents/lb CIF to South Korea as well as to Japan.
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