India: Chrome ore dispatches increase 18% m-o-m in Sep'24

India's chrome ore dispatches in September 2024 rose 18% m-o-m to 185,752 tonnes (t) compared to 157,676 t in August. This growth was supported by a price rise of around INR 3,000/t ($36/t) m-o-m in Indian ferro chrome due to increased bids at Odisha Mining Corporation's (OMC's) and FACOR's auctions of chrome ore and ferro chrome, respectively. Tata Steel, which saw a sharp 673% rise in dispatches after a subdued August, significantly boosted the overall dispatch figures.

Major mining companies also reported an increase. OMC and Indian Metals & Ferro Alloys Limited (IMFA) saw a 10% and 18% growth in dispatches, respectively. However, Vedanta-Ferro Alloys Corporation Limited (FACOR) experienced a 26% decline in dispatches.

Procurement trends

IMFA emerged as the top chrome ore buyer in September, procuring a total of 47,778 t entirely from its own mines. Jindal Stainless stood as the second largest buyer, sourcing 88% (30,437 t) from OMC and the remaining 12% (4,072 t) from its own mines. FACOR sourced 54% (7,564 t) from OMC, while the remaining 46% (6,330 t) came from its own mines.