India: Chrome ore dispatches increase 10% m-o-m in Jan’22

Indian chrome ore dispatches rose by 10% m-o-m in Jan’22 due to low prices in line with decreased ferro chrome prices m-o-m in January.

Dispatches from OMC inched up marginally by 2% m-o-m in January with a major volume supplied to Jindal Stainless followed by Visa Steel. Meanwhile, dispatches from Tata Steel climbed by 9% m-o-m with a major volume kept for captive consumption while a chunk of the raw material was supplied to the conversion units.

Procurement trend

Tata Steel and IMFA remained the two largest receivers of chrome ore in January.

While Tata Steel sourced the entire volume from its captive mines, IMFA procured a major portion of the material from its captive mines and some quantity from Tata Steel and OMC. Meanwhile, Jindal procured 77% of the material from OMC while the rest from Tata Steel.