Chrome ore dispatches from India decreased by 44%, m-o-m, to 164,230 tonnes (t) in Sept’21. Prices of ferro chrome started falling in Sept’21, on limited buying interest from the domestic market and China. This scenario has made the market uncertain about securing ore at higher prices.
However, prices started moving northward since mid-month and the sentiments remained a bit unclear initially but strengthened towards the month-end.
Major buyers: Jindal Stainless, IMFA and VISA Steel were the three major receivers of chrome ore in Sept’21. Jindal Stainless procured its 73% of the material from Tata Steel, while the rest was procured from OMC. Meanwhile, VISA also procured around 72% of the chrome ore from Tata Steel and the rest was from OMC. IMFA received 86% of the chrome ore from its captive mine.
Tata Steel and FACOR procured their full quantity through their captive mines.
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