- Lower chrome ore prices offer cost relief
- Offered volume decreases m-o-m
Odisha Mining Corporation (OMC) is set to conduct its next chrome ore auction on 19 September 2026, offering 100,000 t, down from the 104,700 t offered in the previous auction. OMC has also reduced base prices across grades by around 2%, equivalent to INR 250-581/t ($3-6/t).
Indian ferro chrome prices have declined by around INR 333/t ($3/t) m-o-m in September, with high-carbon ferro chrome currently assessed at around INR 118,600/t in the spot market. However, market conditions remain relatively firm, supported by regular trades and firm input costs, particularly metallurgical coke.
The reduction in chrome ore base prices comes as ferro chrome producers continue to face firm input costs despite the marginal correction in finished alloy prices. Lower ore prices could therefore provide some relief to producer margins, while the reduced auction volume may limit the overall availability of material in the upcoming sale.
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