India: Chrome ore dispatches rise 11% m-o-m in Jan'24

Indian chrome ore dispatches witnessed an increase of 11% m-o-m in January 2024.

Tata Steel led the charge with a remarkable 530% surge in dispatches as it returned to full-fledged mining operations. Similarly, Ferro Alloys Corporation Limited (FACOR) reported a 9% increase in its dispatches.

However, Odisha Mining Corporation (OMC) witnessed a decline of 30%, while Jindal Stainless experienced an 18% reduction in their dispatches during the same period. Furthermore, Indian Metals & Ferro Alloys Limited (IMFA) reported a 7% decrease in their dispatches.

Procurement trend

During January, IMFA claimed the top position as the primary purchaser of chrome ore, acquiring a substantial amount of material (62,242 t) from its own mines and a minor quantity of 577 t from OMC. Jindal Stainless sourced 85% (39,665 t) from OMC, while the remaining 7,137 t were procured from Tata Steel and their own mines. Tata Steel secured the third position as a buyer, acquiring the entire 25,843 t from its own mining operations.