[SMM Chromium Flash] China's Chrome Ore Port Inventory Rises to 5.22 Mt as of Sep 4, Led by Tianjin Port Build

Published: Sep 7, 2026 17:54

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As of September 4, 2026, China's total chrome ore inventory at ports stood at 5.219 million mt, up 191,000 mt (+3.80%) from 5.028 million mt on August 28.

Tianjin Port, China's dominant chrome ore hub, held 4.5737 million mt, up 186,900 mt (+4.26%) week-on-week, accounting for 87.6% of the national total, up from 87.3% the prior week. The remaining ports collectively held just 645,300 mt (+42,000 mt, +0.66% WoW), essentially flat. Almost the entirety of this week's national inventory build was therefore concentrated at Tianjin, reaffirming its role as the primary discharge and warehousing hub for seaborne ore serving Inner Mongolia and other northern ferrochrome smelting clusters.

The build reflects a supply side that continues to outrun downstream offtake. South Africa remains the overwhelming source of China's ore, with H1 2026 imports up nearly 30% YoY and exports staying elevated as Transnet rail reforms and growing use of the Maputo corridor via Mozambique ease logistics bottlenecks that had previously capped shipment volumes. Zimbabwean supply has also surged (+44% YoY in H1), adding further to arrivals. On the demand side, ferrochrome producers have kept operating rates high even as high-carbon ferrochrome prices eased roughly 100 yuan/mt in August on oversupply and sluggish retail sales, while China's stainless steel sector, despite entering its traditional September-October peak season, is seeing mills resume post-summer-maintenance output faster than downstream orders are recovering, with July stainless exports down 13.2% MoM. With ore arrivals holding firm and consumption growth lagging, port stocks, concentrated at Tianjin, look set to stay well-supplied into the Mid-Autumn Festival and National Day holiday period.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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