Indian chrome ore dispatches increased by 32% M-o-M in June, as the buyers are stocking up material before monsoons. Major buyers have increased their procurement by a considerable amount in the month of June as the supply of ores during monsoon reduces and mining activity gets disrupted.
Meanwhile, few buyers also reduced their procurement in anticipation of reduced demand for Ferro Chrome and the fluctuating market conditions, as the market is hit by oversupply and the producers who cannot sell in the export market are struggling to conclude deals in the domestic market.
Major Buyers:
IMFA, Misrilall Mines and Jindal Stainless were the three manufacturing units to procure the highest amount of Chrome ore in Jun’2020. Jindal Stainless and FACOR also increased their procurements by significant amounts. Meanwhile, Misirlall mines and VISA Steel didn’t procure much in June.
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