Despite the surge in prices, Indian chrome ore dispatches increased by 43% m-o-m in Mar ’21. Few ferrochrome producers refrained from lifting chrome ore from OMC as they found the prices too high and were unsure of ferrochrome prices sustaining at these levels.
However, the dispatches recorded a substantial increase as most of the producers were short on inventory and the increased ferrochrome demand in March led them to lift higher quantities during the month.
OMC remained the largest merchant seller of chrome ore in the month, while TATA Steel sold only limited chrome ore in the market. Most of their dispatches were to the plants doing a conversion for TATA steel.
Jindal Stainless and IMFA remained the largest receiver of chrome ore in March ’21. Meanwhile, TATA steel along with its conversion units procured around 35% of the total dispatches from Odisha.
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