About 96,400 t of material was booked out of 131,800 t offered at OMC’s chrome ore auction on 20 May . Bids edged up slightly across all grades by upto 6% (INR 10-1,545/t) m-o-m. Additionally, as compared to base price, premiums went above by upto 6% (INR 100-1,500/t).
Key factors for rise in bids
M-o-m rise in ferro chrome prices: Indian monthly average ferro chrome (HC60%) prices went up by around INR 1,300/t ($13/t) m-o-m in May’26. The increase was largely due to limited sellers in the market as export market became more feasible due to currency depreciation and rise in Chinese tender prices for May.
Upcoming monsoon impact: Another factor for rise in bids could likely be due to approaching monsoons next month prompting sellers to restock their inventory levels as chrome ore supply tightens during that period.
Uptick in stainless steel prices: Stainless steel prices particularly for 304 grade HRC went up by around INR 8,600/t ($89/t) in May’26. The rise was largely driven by nickel costs which in turn affected ferro chrome pricing. However, overall demand for this segment stayed low.
India’s chrome ore output increased by 12% y-o-y to 3.53 mnt in FY26, compared to 3.16 mnt in FY25. The uptick reflects supportive pricing conditions in the domestic ferro chrome market. Odisha Mining Corporation (OMC) continued to dominate this sector, contributing nearly 48% of total output. Its production rose 24% y-o-y to 1.68 mnt from 1.35 mnt, driven by higher volumes from existing mines.
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