- OMC raises base prices by 2% for chrome ore auction
- TISCO raises Oct’25 tender prices by RMB 50/t m-o-m
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices increased by INR 1,900/tonne (t) ($22/t) w-o-w to INR 120,400/t ($1,369/t), compared to the previous assessment on 8 October 2025. The price increase followed the Vedanta-FACOR auction results, in which the larger lot of 10-150 mm fetched an H1 price of INR 120,800/t ($1,374/t) exw. Overall, bids were 3-4% higher than base prices. However, the market remained mostly quiet this week, as participants waited for the results of the upcoming Odisha Mining Corporation (OMC) chrome ore auction.
High-carbon ferro chrome (HC 60%, Si: 4%) prices in India were assessed at INR 120,400/t ($1,369/t) exw-Jajpur, according to BigMint’s assessment on 15 October. Around 3,300 t were traded last week within the price range of INR 118,500-121,500/t ($1,348-1,382/t) exw.
Additionally, prices of low-silicon high-carbon ferro chrome inched up by INR 1,400/t ($16/t) w-o-w to INR 126,400/t ($1,438/t) exw-Jajpur. Meanwhile, prices of low-carbon ferro chrome remained steady w-o-w at INR 212,000/t ($2,411/t) exw-Durgapur.
Market recap (9-15 October 2025)
Sellers keep offers firm, buyers stay wary: Ferro chrome prices increased following higher bids at Vedanta-FACOR’s recent auction, and sellers maintained firm offers of up to INR 125,000/t ($1,423/t). However, buyers remained cautious, and overall market activity was limited. Market participants were also looking forward to the results of the upcoming OMC chrome ore auction.
A buyer informed BigMint, “Prices may see a slight increase in the near term as demand from stainless steel suppliers is likely to pick up.”
At the reverse auction held on 10 October 2025, SAIL-Salem Steel Plant (SSP) booked the entire 4,300 t of high-carbon HC ferro chrome (Cr: 57-63%, C: 5-8%, 10-70 mm) at INR 134,700/t ($1,532/t) FOR, excluding GST.
OMC’s chrome ore base prices rise m-o-m: Odisha Mining Corporation (OMC) has scheduled an auction for 86,400 t of chrome ore on 17 October 2025, with the offered volume up by 6,300 t m-o-m. Base prices for nearly all grades were increased by around 2% m-o-m (INR 482-650/t), while prices of the below-40 grade were raised by 0.4% (INR 40/t).
Indian export market sees mixed trends: Indian ferro chrome export prices to China edged down by 1 cent/lb to 96 cents/lb CNF amid subdued trading activity, as Chinese buying activity remained muted after the Golden Week holidays. In contrast, prices to Japan rose by 3 cents/lb to 106 cents/lb CNF, while offers to South Korea increased by 2 cents/lb to 104 cents/lb CNF.
TISCO hikes Oct’25 ferro chrome tender prices: China’s Taiyuan Iron and Steel Corporation (TISCO) increased its October 2025 ferro chrome tender price by RMB 50/t ($7/t) m-o-m to RMB 8,295/t ($1,164/t) DAP, including taxes.
However, domestic ferro chrome (HC 60%) prices remained stable w-o-w at RMB 8,800/t ($1,235/t) exw-Inner Mongolia. Chrome ore prices for mainstream South African grades were steady at ports, while high-grade Zimbabwean ore supply remained tight. The recent decline in coke prices eased cost pressure on high-carbon ferro chrome production.
Stainless steel procurement stayed largely demand-driven, though overall market activity during the typical October peak season was weaker than expected. Demand from the automotive sector supported steady consumption of low and medium-carbon ferro chrome, while low-carbon ferro chrome demand rose notably in the new energy sector.
Indian stainless steel prices inch down: Indian stainless steel 304-grade HRC prices fell slightly by INR 2,000/t ($281/t) w-o-w to INR 190,000/t ($2,166/t) exw-Mumbai, amid weak demand and cautious buying. Market participants noted a shortage in domestic supply, as delayed shipments from China and other countries continued to restrict availability, providing mild support to flat product prices.
However, overall market sentiment remained subdued despite the recent relaxation in BIS norms. Demand for finished long products was largely limited to need-based purchases, with minimal speculative or bulk buying activity.
Outlook
The outcome of the OMC chrome ore auction will determine the direction of the ferro chrome market in the near term.
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