Indian chrome ore dispatches increased by 30% m-o-m to 337,328 tonnes (t) in Jun’21. Despite this, production of ferro chrome suffered significantly in the past two months, due to shutdowns and shifting of commodities.
Meanwhile, dispatches in May’21 also suffered as producers resisted lifting the material from Odisha Mining Corporation (OMC) due to higher prices.
In Jun’21, prices of chrome ore were around 11% lower as compared to the previous month’s. Ferro chrome smelters booked enough material, as prices in the domestic market were increasing due to short supply.
Major buyers: Jindal Stainless, Tata Steel, and FACOR were the three major receivers of chrome ore in Jun’21. Jindal Stainless procured around 64% of the total quantity from OMC, and the rest from Tata Steel.
Tata Steel procured its full quantity through captive mines while FACOR procured 29% of the total volume from Tata Steel and the rest from captive sources.
Dispatches from Tata Steel for its major ferro chrome conversion units, Nav Bharat Ventures and Aarti Steel, showed a negative trend , as dispatches for captive consumption increased, while the same for its major conversion partners dropped by around 20%.
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