- Bids rise 6-45% m-o-m at OMC’s chrome ore auction
- Tsingshan raises Oct’25 tender price by $28/t m-o-m
Indian high-carbon ferro chrome(HC 60%, Si: 4%) prices rose by INR 1,800/tonne (t) ($20/t) compared to the previous assessment on 17 September. The price hike was driven by elevated offers from sellers following higher bids in the Odisha Mining Corporation (OMC) chrome ore auction.
High-carbon ferro chrome (HC60%, Si:4%) prices in India stood at INR 119,300/t ($1,345/t) exw-Jajpur, according to BigMint’s assessment on 24 September. Around 2,800 t were traded last week within the price range of INR 117,500-126,000/t ($1,325-1,421/t) exw.
Additionally, prices of the low-silicon high-carbon grade rose by INR 2,000/t ($23/t) w-o-w to INR 125,000/t ($1,409/t) exw-Jajpur. Prices of low-carbon ferro chrome increased by INR 2,300/t ($26/t) w-o-w to INR 211,600/t ($2,386/t) exw-Durgapur, respectively.
Market recap (18-24 September 2025)
Bids climb up m-o-m at OMC’s chrome ore auction: At OMC’s recent chrome ore auction on 19 September, of the 80,100 t offered, almost the entirety — 79,600 t — was sold. Bids surged by 6-45% (INR 550-8,809/t) compared to the previous auction and increased by 3-26% (INR 700-5,900/t) over the base price.
At the ferro chrome auction on 22 September, 1,650 t of the 3,300 t offered were sold, all from the larger lot (Cr: 60-64%, 10-100 mm) at the base price of INR 117,500/t ($1,325/t) exw.
Following higher bids at the OMC chrome ore auction, sellers raised their offers due to increased production costs. However, key stainless steel buyers remained cautious, as they already had sufficient stocks with them.
Tsingshan’s ferro chrome tender price rises m-o-m: Tsingshan has lifted its ferro chrome tender price by RMB 200/t ($28/t) m-o-m to RMB 8,495/t ($1,191/t) DAP, including taxes, for October deliveries. Meanwhile, ferro chrome (HC 60%) prices in China inched up by RMB 100/t ($14/t) w-o-w to RMB 8,900/t ($1,248/t) exw-Inner Mongolia.
High chrome ore prices, amid South Africa’s persistent power shortages, kept ferro chrome production costs elevated, with environmental restrictions further tightening supply. On the demand side, the stainless steel market showed clear differentiation. Low-carbon ferro chrome remained strongly supported by high-end stainless steel, new energy, and medical applications, while construction sector demand for high-carbon material stayed subdued, limiting price growth.
Indian stainless steel prices increase: Indian prices of stainless steel 304-grade hot-rolled coils (HRCs) increased by INR 2,000/t ($23/t) w-o-w to INR 192,000/t ($2,165/t) exw-Mumbai, driven by higher input costs, though demand stayed moderate. Market participants noted that overall stainless steel demand remained sluggish, with US tariffs having only a limited impact. Weak demand continued to weigh on trade flows, keeping overall activity subdued.
The finished longs market also remained muted, with dull demand and lower production levels aligned to weak activity. Export markets offered little support, and overall sentiment stayed cautious, with limited buying interest from both domestic and overseas buyers, according to a mill source.
Outlook
The Indian ferro chrome market is expected to witness slight price gains in the near term, but their sustainability will depend on buyers’ acceptance.
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