India: Chrome ore dispatches down 17% m-o-m in Nov'21

Indian chrome ore dispatches decreased by 17% m-o-m in Nov'21 on drop in ferro chrome demand from the Chinese markets.

Dispatches from OMC declined by 51% m-o-m in Nov'21 due to lower production in the previous months. Meanwhile, dispatches from TATA remained stable m-o-m with a major volume kept for captive consumption while a chunk of the raw material was supplied to the conversion units.

IMFA and Tata Steel remained the two largest receivers of chrome ore, each accounting for 15% of the total dispatches. Meanwhile, Jindal Stainless and IMFA reduced their procurements this month due to enough stock available with them.

Procurement trend

IMFA procured major portion of the material from its captive mines, while some quantity from TATA Steel. Meanwhile, Jindal procured 60% of the material from OMC while the rest from TATA Steel.