Domestic chrome ore dispatches surged 38% m-o-m in September 2022, as ferro chrome smelters increased production to meet the festive season’s demand for stainless steel. Furthermore, chrome ore imports into India fell 34% m-o-m in September. This also led to increased demand for domestic chrome ore.
Dispatches from FACOR increased sharply by 91% m-o-m in September with a major volume of around 16,000 tonnes (80%) kept for captive consumption. Meanwhile, chrome ore dispatches by OMC and Tata Steel rose by 81% and 24% m-o-m in September respectively.
However, dispatches from IMFA dropped by 18% m-o-m in September for its captive consumption.
Procurement trend
Jindal Stainless (28,335 t), Visa Steel (25,779 t) and IMFA (23,931 t) remained the three largest receivers of chrome ore in September.
Jindal Stainless steel procured 61% of the material from OMC, while the remaining quantity of around 11,000t were procured from Tata Steel. Meanwhile, Visa Steel procured a majority of the chrome ore (76%) from OMC.
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