[SMM Chrome Daily Review] Ferrochrome Market Temporarily Stable, Chrome Ore Prices Unchanged

On April 8, 2026, high-carbon ferrochrome prices saw no adjustment, with Inner Mongolia high-carbon ferrochrome quotations holding steady at 8,550-8,650 yuan/mt (50% metal content).

The ferrochrome market operated steadily during the day, with most producers adopting a wait-and-see attitude and moderate actual transaction activity. Cost side, chrome ore price adjustments were limited, mainly staying high in the short term, supporting ferrochrome retail quotations. Demand side, stainless steel planned production stayed high, raw material inventory continued to be consumed, and restocking demand awaited release. Supply side, ferrochrome producers' production cut plans had not yet been clearly implemented, with no obvious signs of overall contraction. Supply and demand maintained a tight balance, and the ferrochrome market is expected to remain largely stable in the short term. In markets outside China, South African chrome enterprise Glencore-Merafe again extended the deadline for its retrenchment process to allow power utility Eskom to complete the implementation of the 62-cent (rand) electricity price.

Raw materials, on April 8, 2026, chrome ore spot prices remained stable, and futures prices stayed firm. At Tianjin Port, 40-42% South African fines, 40-42% Turkish chrome lump ore, and 48-50% Zimbabwean fines were flat from the previous trading day. On the CIF futures front, the latest offer for 40-42% South African fines was unchanged at $318/mt.

The chrome ore market operated steadily during the day, with a mediocre trading atmosphere. On the spot front, the shipment pressure caused by high South African fines port inventory had not been significantly alleviated, and some traders showed willingness to adjust prices. Meanwhile, mainstream ore grades held firm on pricing sentiment due to tight spot cargo availability, with quotations remaining firm. On the futures front, major South African fines miners maintained stable offers, while Chinese buyers remained cautious in their purchase attitude, with a strong overall wait-and-see atmosphere in the market. Peace talk news emerged from the Middle East geopolitical conflict, and ocean freight rates may see some pullback, lowering delivered costs and relatively weakening price support for chrome ore in the overseas market. Going forward, attention should be paid to China's ferrochrome production schedule dynamics and chrome ore shipment changes. The chrome ore market is expected to remain largely stable in the short term.