- Chrome ore premiums lend support to ferro chrome
- Domestic ferro chrome prices edge up by INR 210/t ($2/t) m-o-m
At Vedanta-FACOR’s ferro chrome auction on 15 July 2026, the larger lot (Cr: 58% min, 10-150 mm) fetched an H1 price of INR 121,400/t ($1,255/t) exw, up by INR 600/t ($6/t) from the base price of INR 120,800/t ($1,255/t). Meanwhile the smaller lot fetched an H1 price of INR 122,900/t ($1,277/t) exw, up by INR 1,600/t ($17/t) from the base price of INR 121,300/t ($1,260/t). The entire offered volume was booked at the auction, as per official sources.
At the previous auction on 24 June, bids stood at INR 122,700/t ($1,282/t) exw for the larger lot (Cr: 57% min), up by INR 1,500/t ($16/t) from the base price. The stronger bids reflected improved buying interest amid rising chrome ore costs and tight domestic spot availability.
Factors supporting bids
Limited supply supports firm ferro chrome sentiment: Indian ferro chrome prices edged up by around INR 210/t ($2/t) in July so far as tighter domestic availability improved market sentiment. Export commitments and increased production of lower-grade ferro chrome reduced the supply of standard-grade material, enabling sellers to maintain firm offers. Despite subdued stainless steel demand, controlled supply continued to support prices.
Although the stainless steel finished market remained weak amid sluggish downstream demand, elevated inventories, and liquidity constraints, buyers continued to procure only against immediate requirements.
Rise in bids in OMC’s chrome ore auction: At OMC’s chrome ore auction on 19 June 2026, 76,500 t were booked out of 108,600 t offered. Bid premiums for most grades increased by 1-4% (INR 230-1,034/t), while a few grades registered a slight decline of 1-2% (INR 136-266/t).
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