MMTC of India revised the reserve prices for exports during January through March of the chrome ores/concentrates. With the revision, the reserve price for the Cr concentrates (Cr2O3: 48 - 50%) became US$270/ton FOB. The change this time was to comply with the softening of the prices in the international market.|
In the fourth quarter (October - December) of 2011, MMTC shifted its export controling 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 - December 2011 was set at US$315/ton FOB, which was subsequently altered to US$280/ton, a level of price realistic for exports to weaker demand. The new reserve price set this time is down by US$10/ton from the same until recently.