India: Chrome ore dispatches inch up 4% m-o-m in Oct'24

• Ferro chrome tags rise $33/t m-o-m in Oct'24
  
  
• Dispatches from Tata Steel, FACOR increase

  
  
  

Indian chrome ore dispatches increased marginally by 4% m-o-m in October 2024 to 194,091 tonnes (t), compared to 185,752 tonnes (t) in September. This rise was driven by a slight improvement in ferro chrome prices, which edged up by INR 2,781/t ($33/t) m-o-m in October, boosting demand for chrome ore. Additionally, increased dispatches from Tata Steel and FACOR contributed to the higher figures.

Tata Steel's dispatches surged 183% m-o-m, while FACOR's grew 117% m-o-m. However, Odisha Mining Corporation (OMC) and Indian Metals and Ferro Alloys (IMFA) saw their dispatches decline by 26% and 13% m-o-m, respectively.

Procurement trends

• IMFA was the largest buyer of chrome ore in October, procuring 41,456 t entirely from its own mines.
  
  
• Jindal Stainless sourced 73% (28,121 t) of its chrome ore stocks from OMC, 15% (5,958 t) from Tata Steel, and the remaining 12% (4,442 t) from its own mines.
  
  
• Balasore Alloys emerged as the third-largest buyer, sourcing 25,258 t entirely from its captive mines.