[SMM Chromium Daily Review] Ore Prices Rebound Slightly, Ferrochrome Remains Stable for Now

On July 15, 2026, retail quotations for high-carbon ferrochrome were temporarily stable, with Inner Mongolia high-carbon ferrochrome at 8,050-8,150 yuan/mt (50% metal content).

The intraday ferrochrome market mainly operated stably, with retail quotations showing no fluctuations and the overall trading atmosphere remaining sluggish. The downstream stainless steel market entered the consumption off-season, end-use demand was weak, and steel mills remained cautious in raw material procurement, with both inquiries and actual transactions performing averagely, offering limited support for ferrochrome prices. On the supply side, ferrochrome production fluctuated at highs, and market supply was in surplus. On the cost side, chrome ore prices rebounded, and ferrochrome costs stopped falling and stabilized, limiting room for a deep price decline. As a new round of steel mill tender pricing cycle began, market participants mostly awaited the mainstream steel mill tender prices for the next month. It is expected that in the short term, the ferrochrome market will mainly continue to be in the doldrums.

On the raw material side, on July 15, 2026, the quotations for 40-42% South African powder, 40-42% Turkish lump, and 48-50% Zimbabwean powder at Tianjin port were raised by 0.25 yuan/mtu from the previous trading day. In the CIF futures market, the latest quotation for 40-42% South African powder was $280/mt.

The intraday chrome ore market was stable, with futures quotations providing bottom support and spot quotations undergoing a slight correction. Port inventories repeatedly hit new highs, and traders still faced shipment pressure. However, considering the high cost of recently arrived chrome ore and the high ferrochrome production providing rigid demand support, chrome ore suppliers held a mindset of holding prices firm and tentatively raised quotations. The inquiry atmosphere recovered, but actual transactions needed to catch up. In the futures market, mainstream ex-China mine quotations for 40-42% South African powder were stable at $280/mt. Market purchase willingness rebounded, with many inquiries and purchases. Overall, the chrome ore market will mainly remain stable in the short term.