India: Chrome ore dispatches fall 23% m-o-m in Jun'23
Indian chrome ore dispatches dropped by 23% m-o-m in June 2023. The decrease in dispatches was a result of enough inventory and reduced interest in chrome ore at higher p...
Indian chrome ore dispatches dropped by 23% m-o-m in June 2023. The decrease in dispatches was a result of enough inventory and reduced interest in chrome ore at higher prices throughout the month, which occurred amidst weak demand and an ample supply of ferro chrome in the domestic market.
Indian Metals & Ferro Alloys Limited (IMFA) experienced a significant decline of 43% in its chrome ore dispatches. Dispatches from Tata Steel and OMC also fell by 26% and 18%, respectively. On the other hand, Ferro Alloys Corporation Limited (FACOR) witnessed a surge in chrome ore dispatches, with a substantial increase of 167% during the month.
Procurement trend
Jindal Stainless (63,483 t), IMFA (59,323 t) and Tata Steel (50,192 t) remained the largest buyers of chrome ore in June.
Among them, Jindal Stainless sourced 74% (46,979 t) of the chrome ore from OMC, 24% (15,530 t) from Tata Steel, and the remaining 974 t from its own plant. IMFA acquired 98% of chrome ore (58,350 t) from its own captive mines and a minor portion of 973 t from OMC. Tata Steel utilised the entire material for its own captive use, sourcing it entirely from its own mines.
