[SMM Chromium Daily Review] Overseas Market Quotations Lowered, Market Transactions Limited

June 10, 2026, retail quotations for high-carbon ferrochrome were unchanged, with Inner Mongolia high-carbon ferrochrome at 8,250-8,300 yuan/mt (50% metal content).

During the day, the ferrochrome market was temporarily stable. The market formally entered the consumption off-season, downstream stainless steel prices weakened, confidence was insufficient, and some steel mills have maintenance and production cut plans. Recently, the release of procurement demand for ferrochrome has been limited, mainly consuming their own inventory. In addition, overseas market chrome ore quotations continued to decline, lowering ferrochrome costs and weakening cost support. On the supply side, ferrochrome producers still have some profit margins and mostly maintained normal production, keeping ferrochrome output high. Oversupply has become an inevitable trend, forcing producers to sell at lower prices to give up profits, and retail quotations have been declining gradually. It is expected that the ferrochrome market will still face downside risks in the short term.

On the raw material side, on June 10, 2026, Tianjin port quotations for 40-42% South African fines, 40-42% Turkish lump ore, and 48-50% Zimbabwean fines were flat compared to the previous trading day. At the CIF futures level, the latest quotation for 40-42% South African fines was $285/mt.

During the day, the chrome ore market was in the doldrums with low actual transactions. At the spot level, port inventories remained high, and traders continued to face heavy shipment pressure. Quotations for South African fine ore kept declining, and some suppliers offered concessions to facilitate deals. Downstream ferrochrome producers were mostly on the sidelines, with limited inquiry and purchase willingness, making mainly just-in-time procurement, and actual transactions were sluggish. At the futures level, the latest quotation from major overseas mines for South African fine ore was lowered by $5 MoM to $285/mt. Traders' purchase willingness was weak, and they mostly waited to see the release of downstream demand and the next round of quotations. Bearish expectations were strong, and actual transactions were sluggish. Buyers and sellers were mostly in a stalemate, and the market is expected to continue in the doldrums in the short term.