India: Chrome ore dispatches fall 27%, m-o-m, in July

India's chrome ore dispatches decreased by 27% m-o-m in July, 2022 due to weak demand from major ferro chrome smelters with adequate inventory held with them.

Dispatches from TATA Steel decreased by 36% m-o-m in July with a major volume kept for captive consumption. However, Odisha Mining Corporation's (OMC's) dispatches rose by 27% m-o-m to 72,732 tonnes (t) owing to an increase in dispatches to Visa Steel (up 148% m-o-m) and Shyam Metalics and Energy (up 316% m-o-m). Meanwhile, the majority of volume (29%) at around 20,800 t was dispatched by OMC to Jindal Stainless Steel. However, this was down by 24% compared to June.

Procurement Trend

IMFA (62,586 t), Jindal Stainless Steel (29,394 t) and TATA Steel (24,373 t) remained the three largest receivers of chrome ore in July.

IMFA procured 76% of the material from captive mines and rest from TATA Steel and OMC, while Jindal Stainless Steel booked chrome ore from OMC and TATA Steel. Meanwhile, TATA Steel sourced the entire volume from its captive mines.