- Base prices rise by 6-16% at OMC’s chrome ore auction
- TISCO’s tender price raised by RMB 600/t m-o-m in Sep
Indian high-carbon ferro chrome (HC60%, Si:4%) prices experienced a slight decline of INR 600/tonne (t) ($7/t) in comparison to the previous assessment on 10 September. Prices declined, as earlier elevated offers could not sustain longer in the market due to lower buying. Additionally, market participants were looking ahead to the chrome ore auction by Odisha Mining Corporation (OMC) scheduled for this week.
High-carbon ferro chrome (HC60%, Si:4%) prices in India were at INR 117,500/t ($1,333/t) exw-Jajpur, as per BigMint’s assessment on 17 September. Deals for close to around 850 t were concluded in the assessment window in the price bracket of INR 115,000-118,000/t ($1,305-1,339/t) exw.
Additionally, prices of low-silicon high-carbon and low-carbon ferro chrome (C: 0.1%) fell by INR 2,200/t ($25/t) and INR 500/t ($6/t) w-o-w to INR 123,000/t ($1,396/t) exw-Jajpur and INR 209,300/t ($2,375/t) exw-Durgapur, respectively.
Market summary (11-17 September 2025)
Market adjusts amid weak buying interest: Ferro chrome market activity slowed after offers surged up to INR 122,000/t ($1,384/t) exw. However, key buyers refrained from active participation, as most of them had sufficient stock and were waiting for prices to soften further before entering the market. This cautious approach led sellers to reduce their offers to attract buying interest.
In addition, some suppliers who had previously stayed away from offering are expected to return with fresh material from next week. This anticipated supply flow is likely to ease the scarcity of 60-grade material that was seen in recent weeks, providing some relief to buyers and stabilising availability in the short term.
Base prices hiked for OMC’s chrome ore auction: OMC has scheduled an auction for 80,100 t of chrome ore on 19 September, with the offered volume rising by 8,200 t m-o-m. Base prices of all grades have been increased by 6-16% (INR 550-3,649/t).
China’s TISCO raises ferro chrome tender price: China’s Taiyuan Iron and Steel Corporation (TISCO) increased its ferro chrome tender price by RMB 600/t ($84/t) in September to RMB 8,245/t ($1,158/t) DAP, inclusive of taxes. Meanwhile, ferro chrome (HC60%) prices in China remained unchanged w-o-w at RMB 8,800/t ($1,239/t) exw-Inner Mongolia.
Despite lower port inventories, stainless steel mills curtailed purchases under profit pressures, leaving prices stagnant. Meanwhile, steady demand from the new energy sector lent support to the low-carbon ferro chrome market.
Indian stainless steel market remains flat: Prices of stainless steel 304-grade hot-rolled coils (HRC) held steady w-o-w at INR 190,000/t ($2,156/t) exw-Mumbai, with finished flat demand remaining moderate. Sales of finished longs were low to moderate, supported by the availability of competitively priced semis in the market.
India’s stainless steel market is likely to gain momentum soon, aided by firm raw material costs and global trends. The outlook stays moderate overall, but stronger domestic demand should boost trading in the next week.
Outlook
With the rise in base prices at OMC’s chrome ore auction, ferro chrome production costs might see an increase. However, the overall response to the auction will determine the ferro chrome price trajectory in the days ahead.
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