India: Chrome ore dispatches fall 4% m-o-m in Apr'24

Indian chrome ore dispatches decreased by 4% m-o-m, reaching 341,857 tonnes (t) in April compared to 356,818 t in March. This slight decline can be attributed to a drop in ferro chrome prices and sluggish conditions in the finished stainless steel market.

Tata Steel's dispatches increased by 9% m-o-m. Meanwhile, Odisha Mining Corporation (OMC) saw a marginal rise of 1% m-o-m, maintaining stable dispatch levels.

However, Indian Metals & Ferro Alloys Limited (IMFA) and Ferro Alloys Corporation Limited (FACOR) experienced declines in dispatches, falling by 45% and 22% m-o-m, respectively.

Procurement trend

In April, Tata Steel was the largest purchaser of chrome ore, acquiring entire 84,218 t from its own mines. Jindal Stainless was the second largest buyer, sourcing 88% (33,993 t) from OMC and the remaining 12% (4,754 t) from its own captive mines. FACOR procured 86% (20,926 t) of chrome ore from its own mines and the remaining 14% (3,457 t) from OMC.