MMTC of India revised the reserve prices for exports during January 2012 through March 2012 of the chrome ores concentrates. With the revision, the reserve price for the Cr concentrates (Cr2O3: 48 - 50%) became USD 270 per tonne FOB. The change this time was to comply with the softening of the prices in the international market.

In the fourth quarter (October to December) of 2011, MMTC shifted its export controlling system from the floor price setting to a so called reserve price system, so that the exports from India be done more in accordance with the changes in the world market than before.

The reserve price for chrome concentrates during October to December 2011 was set at USD 315 per tonne FOB, which was subsequently altered to USD 280 per tonne, a level of price realistic for exports to weaker demand. The new reserve price set this time is down by USD 10 per tonne from the same until recently.

(Sourced from TEX Report Limited)