MMTC’s Export Tender for 54,000 MT Chrome Ore

MMTC, a leading international trading company in India and one of the major global players in minerals trade, has invited two different tenders for export of chrome concentrate, low silica chrome concentrate & chrome ore of Indian origin for interested overseas buyers.

Tender 1:

The first export tender is for 43,000 MT chrome concentrate and low silica concentrate

Offered quantity:

a) 35,000 MT (±10%) 50/48% Cr2O3 chrome concentrate
b) 8,000 MT (±10%) 56/54% Cr2O3 low silica chrome concentrate

The shipment period for chrome concentrate is during 19-30 Apr’16 and low silica chrome concentrate is from 1-10 May’16.

Interested bidders can submit their bids till 30 Mar’16. Bidders needs to quote prices in USD/DMT FoBT Paradip port India for item-wise chrome concentrate and for containerized shipment, additional USD 15/DMT will be added in price.

Tender 2:

Another export tender for 11,000 MT Friable chrome ore (50/48% Cr2O3) is due on 16 Mar’16 till 11:00 hrs. The material belongs to Misrilall Mines and the shipment period is during 31 Mar’16.

Chrome ore availability in India

Tata Steel and OMC have increased their chrome ore production. Therefore, there is excess supply of chrome ore in domestic market. Looking at demand-supply situation of chrome ore in India, the union government has re-examined its export policy and has decided to remove duty on chrome ore, which stood at 30%.

Earlier last year, Tata Steel’s Sukinda chrome mine had been accorded non-captive status and granted lease extension till 2020 to 3 merchant chromite mines of B C Mohanty, Mishrilal and Tata Steel. This has helped in increasing the availability of chrome ore in the market.

In the coming year, India would also be a potential exporter of chrome ore to China. This is because, recent cut of 30% export duty to nil. This will definitely boost chrome export numbers in the coming years.

China chrome ore imports in 2015

China, a major importer of chrome ore has imported 10.4 MnT material in 2015. The major countries exporting chrome ore to China were South Africa, Turkey, Albania, Iran, Oman, Pakistan etc. South Africa, the major exporter of chrome ore exported 72%, Turkey exported 9.6%, Albania shared 4.6%, Iran exported 3.7%, Oman exported 3.4% of the total share.

Source: Customs