India: Chrome ore dispatches surge 40% m-o-m in Oct'22

India's chrome ore dispatches climbed by 40% m-o-m in October 2022 on rising demand from the major ferro chrome smelters in line with its increased prices. Ferro chrome prices rose in October amid a hike in stainless steel prices due to the festive season.

Dispatches from Tata Steel increased by 58% m-o-m in October with a major volume of around 34% kept for captive consumption. Meanwhile, dispatches from OMC increased by 48% m-o-m in October with a major volume supplied to Jindal Stainless followed by Visa Steel.

Jindal Stainless Steel (55,154 t) and Visa Steel (34,138 t) remained the two largest receivers of chrome ore in March. Both these companies sourced the raw material from OMC and Tata Steel.

Meanwhile, FACOR procured 70% of the material from captive mines and the rest from Tata Steel.