India: Ferro chrome prices rise slightly w-o-w as sellers quote firm offers

• Prices stable amid balanced market activity
  
  
• Weak stainless demand limits price momentum
  
  

Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained mostly stable, with a slight uptick of INR 400/t ($4/t) w-o-w to INR 122,200/t ($1,280/t) exw-Jajpur, as per BigMint's assessment on 10 June 2026. Prices remained stable as steady export demand and balanced domestic buying were offset by firm seller offers, keeping prices range-bound. Deals for around 2,700 t were concluded during this assessment window in the price range of INR 121,300-123,100/t ($1,267-1,286/t) exw.

Low-silicon high-carbon ferro chrome prices were unaltered w-o-w at INR 126,400/t ($1,320/t) ex-works Jajpur, with domestic transactions totalling around 500 t during the assessment period, concluded at approximately INR 125,000/t ($1,305/t). Meanwhile, low-carbon ferro chrome (0.1% C) prices also stayed unchanged at INR 243,000/t ($2,538/t) ex-works Durgapur.

Market highlights (4-10 June)

Sellers maintain firm offers: From the sellers' perspective, prices remained largely stable as producers held firm offers amid steady export inquiries and consistent domestic buying interest. Limited pressure to discount, supported by controlled inventories and disciplined production scheduling, helped maintain price levels. Sellers preferred price protection over volume expansion, while balanced demand conditions ensured smooth offtake. Overall, the market stayed range-bound, reflecting sellers' confidence in sustaining value despite modest transactional activity.

Chinese ferro chrome demand softens: In China, ferro chrome demand weakened as the stainless steel sector entered its traditional off-season. Maintenance shutdowns at major producers, including Baosteel Desheng and Taiyuan Iron and Steel Stainless Steel, reduced crude steel output plans. While some mills held June tender prices steady, others cut procurement rates, as buyers shifted to cautious, need-based purchasing amid subdued end-user consumption and limited restocking activity.

India's stainless steel market softens on weak demand: Market eased as demand weakened across flat and long product segments. 304-grade HRC remained unchanged at INR 220,000/t ex-Mumbai, while 316-grade HRC declined by INR 5,000/t to INR 400,000/t. Market participants stayed cautious amid volatile nickel trends and rising molybdenum costs. Higher freight charges and container shortages reduced import competitiveness, lifting landed costs and curbing fresh bookings, thereby keeping overall sentiment subdued.

Outlook

As per BigMint analysis, ferro chrome prices are expected to remain range-bound, supported by firm offers and steady trades, while subdued stainless steel demand and monsoon-related seasonality are likely to cap upside.