- Bids show mixed trends at OMC’s chrome ore auction
- TISCO cuts tender price by RMB 200/t ($28/t) for Aug’25
Indian high-carbon ferro chrome (HC60%, Si:4%) prices remained largely stable w-o-w, down slightly by INR 100/tonne (t) ($1/t) in comparison to the previous assessment on 16 July. Prices held steady following the recent Odisha Mining Corporation (OMC) chrome ore auction, in which no major variations were seen in bids.
As per BigMint’s assessment on 23 July, high-carbon ferro chrome (HC60%, Si:4%) prices in India were at INR 99,400/t ($1,152/t) exw-Jajpur. Trades for around 2,200 t were concluded last week in the price range of INR 99,000-100,000/t ($1,148-1,159/t) exw.
Low-silicon high-carbon prices were unchanged w-o-w at INR 103,400/t ($1,199/t) exw-Jajpur. Trades for approximately 500 t were concluded in the price bracket of INR 103,000-103,500/t ($1,194-1,200/t) exw.
Low-carbon (C:0.1%) prices edged down by INR 300/t ($3/t) w-o-w to INR 198,000/t ($2,295/t) exw-Durgapur.
Market summary (17-23 July 2025)
OMC’s auction sees largely steady bids: At OMC’s chrome ore auction on 19 July, 51,050 t were sold of the 73,100 t offered. Bids showed mixed trends m-o-m, dropping by 0.1-2% (INR 10-465) for most grades and rising by 1-3% (INR 213-290/t) for some. As compared to the base prices, final bids fetched premiums of up to 4%.
Hence, the market also largely operated at the previous week’s levels of INR 99,000-100,000/t ($1,148-1,159/t) exw, and regular trades kept these prices supported.
China’s TISCO reduces tender price: China’s Taiyuan Iron and Steel Corporation (TISCO) reduced its Aug’25 ferro chrome tender price by RMB 200/t ($28/t) m-o-m to RMB 7,645/t ($1,068/t) DAP (including taxes).
In the domestic Chinese market, prices were unchanged w-o-w at RMB 7,850/t ($1,096/t) exw-Inner Mongolia. Prices held steady w-o-w, with market sentiment remaining cautious. Trading activity slowed as both buyers and sellers adopted a wait-and-watch approach, amid mixed signals and uncertainty across upstream supply and downstream stainless steel demand.
Indian stainless steel market softens: India’s stainless steel market saw subdued activity last week, with finished flats showing mixed price trends and longs registering a slight w-o-w decline, as overall trading remained limited amid cautious buyer sentiment. BigMint’s assessment for 304-grade hot-rolled coils (HRCs) dipped by INR 1,000/t ($12/t) w-o-w to INR 184,000/t ($2,130/t) exw-Mumbai.
Outlook
The ferro chrome market currently seems to be range-bound, with no significant variations. In the coming days too, a similar trend is expected.
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