[SMM Daily Review] Ferrochrome prices remain firm, chrome ore inquiries improve

On June 26, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 7,750-7,900 yuan/mt (50% metal content), rising slightly by 50 yuan/mt (50% metal content) MoM. In Sichuan and north-west China, the ex-factory price of high-carbon ferrochrome was 7,800-7,900 yuan/mt (50% metal content). The quoted price of high-carbon ferrochrome from South Africa was 7,800-8,000 yuan/mt (50% metal content), while that from Kazakhstan was 8,800-9,000 yuan/mt (50% metal content), remaining unchanged MoM. The ferrochrome market operated steadily during the day. The unexpected flat landing of steel tender prices boosted market confidence, leading to an increase in inquiry and purchasing sentiment. The retail price of ferrochrome remained relatively firm, with some producers slightly raising their quoted prices. Additionally, the latest overseas market quotes for chrome ore remained unchanged, providing stable support for ferrochrome prices from the production cost side. Meanwhile, the downstream stainless steel market showed signs of recovery, and close attention should still be paid to the production schedule of stainless steel in the future. It is expected that the ferrochrome market will remain largely stable in the short term.

On the raw material side, chrome ore prices stopped falling and rebounded, with market inquiry enthusiasm increasing. On June 26, 2025, the spot cargo price of 40-42% South African powder ore at Tianjin Port was 54-55 yuan/mtu, while that of 40-42% South African raw ore was 48-50 yuan/mtu. The quoted price of 40-42% Turkish chrome lump ore was 60-61 yuan/mtu, remaining unchanged from the previous trading day. The quoted price of 46-48% Zimbabwe chrome concentrate powder was 55.5-56.5 yuan/mtu, rising slightly by 0.5 yuan/mtu. Although the flat landing of steel tender prices boosted market confidence, the positive sentiment was still being digested. Meanwhile, it took some time for ferrochrome producers to release their purchasing demand. Therefore, chrome ore traders remained relatively cautious, with prices remaining largely stable. Affected by the excessive decline in the early stage, the quoted price of Zimbabwe chrome ore has rebounded slightly. It is expected that the chrome ore market will operate steadily in the short term.