India: Chrome ore dispatches drop 7% m-o-m in June

Indian chrome ore dispatches dropped by 7% m-o-m in June 2022 on dull demand from the major ferro chrome smelters in line with bearish market trends in the latter in the month under review.

Dispatches from OMC decreased by 48% m-o-m in June with a major volume supplied to Jindal Stainless (27,509t) followed by Visa Steel (7,954t). However, dispatches from Tata Steel rose by 29% m-o-m with the major volume kept for captive consumption, while around 21,000 t was exported to China. Furthermore, Tata Steel Mining Limited's wholly owned subsidiary, Rohit Ferro Tech, resumed production, booking 28,950t in June from its captive mines.

Procurement trend

IMFA (64,734 t), Tata Steel (62,897 t) and Jindal Stainless Steel (30,379 t) remained the three largest receivers of chrome ore in June.

IMFA procured 93% of the material from captive mines and the rest from OMC and Tata Steel while Tata Steel procured the entire volume from its captive mines. Meanwhile, Jindal Stainless Steel sourced the raw material from OMC and FACOR, sources informed.