Indian stainless industry concerns on chrome ore price fixation
Reportedly, Indian Jindal Stainless Limited (JSL) is concerning on the price fixation of chrome ore run by East Indian state Odisha government.
In the current quarter Orissa Mining Corporation, the leading chrome ore producer in India has hiked the chrome ore prices by 10% to around US$306.71/ton.
However the landing price of the lumpy ore imported from Oman is around US$191.69/ton.
The policy of fixing price for the entire quarter is considering the aggressive price bid by some smaller players from outside states.
The high and fluctuating prices of chrome ore have directly threatened the existence of ferroalloys industry in the state.
News Date 07 May 2012 15:41:11 reported by Kate Hsieh