- Bids rise for most grades at OMC’s chrome ore auction
- OMC’s ferro chrome auction witnesses subdued offtake
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices stayed unchanged w-o-w as compared to the previous assessment on 17 October. Overall, the domestic market did not witness any major movement in the last week due to the festive holidays.
As per BigMint’s assessment on 24 October, high-carbon ferro chrome (HC 60%, Si: 4%) prices in India were at INR 120,400/t ($1,373/t) exw-Jajpur. Around 900 t were traded last week in the price range of INR 119,500-122,000/t ($1,362-1,391/t) exw.
Low-carbon ferro chrome (C:0.1%) prices too stayed steady w-o-w at INR 212,000/t ($2,417/t) exw-Durgapur. Meanwhile, the low-silicon high-carbon grade edged down by INR 400/t ($5/t) w-o-w to INR 126,000/t ($1,436/t) exw-Jajpur.
Market summary (16-23 October 2025)
OMC’s auctions see strong chrome ore demand, weak ferro chrome sales: At OMC’s chrome ore auction on 17 October, 83,100 t were sold out of the 86,400 t offered. Bids increased by 0.4-18% (INR 40-5,550/t) for most grades, while a few saw a decline of 8-10% (INR 1,894-2,764/t) m-o-m.
Additionally, the ferro chrome auction yesterday saw muted response, with just 500 t sold out of the 3,200 t offered. The entire quantity sold was from the larger lot (Cr: 60-64%, 10-100 mm) and was booked at the base price of INR 120,400/t ($1,373/t) exw.
Moreover, due to the festive holidays in the previous week, market activity was largely silent. A seller informed BigMint, “We have not yet started offering. Maybe in the first week of November, we will start taking into account the revised cost of ore.”
TISCO holds tender price steady m-o-m: China’s Taiyuan Iron and Steel Corporation (TISCO) kept its ferro chrome tender price unchanged m-o-m for November at RMB 8,295/t ($1,164/t) DAP, inclusive of taxes.
Meanwhile, ferro chrome (HC 60%) prices in China declined slightly by RMB 100/t ($14/t) w-o-w to RMB 8,800/t ($1,235/t) exw-Inner Mongolia. Environmental restrictions and limited raw material availability prompted some domestic smelters to reduce operating rates. However, increased imports of chrome ore eased supply pressures. Meanwhile, subdued stainless steel production and lower procurement activity continued to weigh on high-carbon ferro chrome demand.
Indian stainless steel prices steady w-o-w: Indian stainless steel 304 HRC grade prices were unchanged w-o-w at INR 190,000/t ($2,167/t) exw-Mumbai. Market activity was subdued due to festival holidays, with most participants away from trading. In China, stainless steel prices also held steady amid weak demand, high inventories, and tariff concerns. Despite the traditional September-October 2025 peak season, oversupply and sluggish consumption continued to keep prices under pressure.
Outlook
Market activity is expected to start from next week onwards, and with sellers keeping prices firm at elevated levels, buyers’ acceptance will determine the future price trajectory.
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