On July 29, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 7,800-7,900 yuan/mt (50% metal content); in Sichuan and north-west China, it was also 7,800-7,900 yuan/mt (50% metal content). The quoted price for high-carbon ferrochrome from South Africa was 7,800-8,000 yuan/mt (50% metal content), and from Kazakhstan, it was 8,800-9,000 yuan/mt (50% metal content), unchanged from the previous trading day on a MoM basis.
The ferrochrome market operated smoothly during the day, with producer quotes remaining firm due to cost support. On one hand, the current tradeable volume of retail ferrochrome is limited; on the other hand, coke prices have continued to rise, increasing smelting costs and limiting producers' willingness to adjust prices. Additionally, although the August steel tender prices of mainstream steel mills dropped slightly, ferrochrome producers still have a certain profit margin, and it is expected that the ferrochrome market will remain stable in the future.
Regarding raw materials, on July 29, 2025, the spot price of 40-42% South African powder at Tianjin Port was 54-55 yuan/mtu; 40-42% South African raw ore was quoted at 49-51 yuan/mtu; 46-48% Zimbabwe chrome concentrate powder was quoted at 56-57 yuan/mtu; 40-42% Turkish chrome lump ore was quoted at 60-61 yuan/mtu, unchanged from the previous trading day on a MoM basis. Zimbabwe 48-50% chrome concentrate powder was quoted at 57-59 yuan/mtu, with a slight increase of 0.5 yuan on a MoM basis. At the futures level, 40-42% South African powder held steady at $265-270/mt.
The chrome ore market atmosphere was good during the day, with actual transactions mostly concentrated in the futures market. The new round of quoted prices from overseas main mines remained unchanged at $265/mt. The previous bearish sentiment in the chrome ore market has diminished, with expectations mostly leaning towards stability. Therefore, traders have gradually purchased and built up inventories, and the atmosphere for chrome ore futures inquiries and transactions has improved. At the spot level, Zimbabwe chrome ore has seen a slight price increase due to its economic advantages. Additionally, with the increase in planned production of ferrochrome, some producers have plans to restock and stockpile in the near future. The chrome ore market is expected to operate generally stable with a slight rise, pending actual transaction follow-up.
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