India: Chrome ore dispatches rise 9% m-o-m in Oct'23

Indian chrome ore dispatches saw a 9% m-o-m increase in October.

Indian Metals & Ferro Alloys Limited (IMFA) experienced a significant 60% surge in its dispatches, while Ferro Alloys Corporation Limited (FACOR) also recorded a 45% rise. Dispatches from Odisha Mining Corporation (OMC) remained steady with a slight uptick of 1%.

However, there was a notable 45% decrease in dispatches from Jindal Stainless. TATA's dispatches were temporarily on hold for 2-3 months due to its ongoing merger process.

Procurement trend

In October, Jindal Stainless emerged as the leading buyer of chrome ore with a total of 52,905 t, acquiring 95% (50,371 t) from Odisha Mining Corporation (OMC) and the remaining 5% (2,534 t) from its own mines.

IMFA secured 31,734 t, sourcing the entire material from its own mines. FACOR, with a total procurement of 12,317 t, obtained 94% (11,540 t) from its own mines and the remaining 6% (778 t) from OMC.