December 03, 2008

India sets 90,000 tonnes chrome export quota

It is reported that India has set an export quota of around 90,000 tonnes of chromium ore and concentrate for August to September 2008 period. Chromium ore is likely to account for 12,000 to 15,000 tonnes of the quota.

India’s chromium ore exports for the current financial year are likely to be far below the 1 million tonnes level that exports exceeded in the previous financial year.

The Minerals & Metals Trading Corporation has fixed the base export price for chromite at USD 715 per tonne FOB and for concentrates at USD 710 per tonne until the end of September 2008.

Domestic ferrochromium prices have fallen to INR 75,000 per tonne from INR 100,000 per tonne two months ago as a result of the weak stainless steel market.