On July 30, 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 cost support strengthening and short-term ferrochrome prices remaining firm. The implementation of the coke price hike, coupled with a slight increase in spot chrome ore quotes, led to higher immediate smelting costs for ferrochrome, limiting producers' willingness to adjust prices. Additionally, although the August steel tender prices of mainstream steel mills dropped slightly, ferrochrome producers still had a certain profit margin. Moreover, the realization degree of downstream stainless steel production cut plans fell short of expectations, and the demand for ferrochrome purchases had yet to be fully released. It is expected that the ferrochrome market will remain stable in the subsequent period.
In terms of raw materials, on July 30, 2025, the spot quote for 40-42% South African powder at Tianjin Port was 54-55 yuan/mtu; the quote for 40-42% South African raw ore was 49-51 yuan/mtu; the quote for 46-48% Zimbabwe chrome concentrate powder was 56-57 yuan/mtu; the quote for 48-50% Zimbabwe chrome concentrate powder ore was 57-59 yuan/mtu; and the quote for 40-42% Turkish chrome lump ore was 60-61 yuan/mtu, unchanged from the previous trading day on a MoM basis. On the futures front, 40-42% South African powder held steady at $265-270/mt.
The chrome ore market atmosphere was good during the day. Ferrochrome producers engaged in stockpiling and purchasing operations, leading to an increase in spot chrome ore shipment transactions. Zimbabwe chrome concentrate powder still had economic advantages, with recent inquiry demand performing well; the transaction price of South African powder moved up slightly; and there was strong purchasing sentiment for South African raw ore with stable quality. Chrome ore traders gradually purchased and built up inventories, with the futures transaction price of chrome ore slightly increasing. The transactions of South African 40-42% chrome concentrate powder ore were concentrated at $267-268/mt. The chrome ore market was expected to operate generally stable with a slight rise, pending actual transaction follow-up.
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