Indian chrome ore dispatches came down by 17pc m-o-m in Oct’ 20 as the pre-existing mined lots from the auctioned mines were sold off in the earlier months and only little leftover was dispatched in Oct’20. OMC remained the largest supplier of chrome ore with 73,604 t dispatched volume.
During the monsoons, the production of chrome ore has been already affected. Meanwhile, backlog dispatches of Misrilal were completed this month which also resulted in showing the negative growth in dispatches.
Major Buyers:
IMFA, Jindal Stainless, FACOR and Visa Steel are the four major buyers in Oct-20.
Prices of chrome ore in October reached a 2-year high as the auctions for chrome ore took place by OMC after 4 months, which left the ferro chrome producers hanging in the dry.
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