- 76,500 t booked against 108,600 t offered
- Firmer ferro chrome prices support auction bids
At OMC’s chrome ore auction on 19 June 2026, 76,500 t were booked out of 108,600 t offered. Bid premiums for most grades increased by 1-4% (INR 230-1,034/t), while a few grades registered a slight decline of 1-2% (INR 136-266/t).
The modest improvement in bid levels was primarily driven by the m-o-m rise in Indian high-carbon ferro chrome prices. Average domestic ferro chrome (HC 60%) prices increased by nearly INR 3,200/t ($34/t) in June, supported by limited availability of high-grade material in the domestic market and exporters receiving better realisations due to the depreciation of the Indian rupee.
However, bidding activity remained largely measured despite the price support. Market participants attributed the cautious approach to OMC’s 3% increase in base prices this month, which limited room for aggressively high bidding. Several participants also indicated that domestic ferro chrome prices may have already reached their near-term peak and are unlikely to witness significant gains amid continued weakness in stainless steel demand.
In addition, participants noted that many ferro chrome producers had secured adequate chrome ore inventories during the previous auction in preparation for the monsoon season. With comfortable stock positions and an overall cautious market sentiment, bidding trends remained broadly stable on a m-o-m basis despite the slight increase in premiums.
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