[SMM Chrome Daily Review] Ferrochrome refuses to budge on prices, chrome ore market operates steadily

On August 7, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 7,850-8,000 yuan/mt (50% metal content); in Sichuan and north-west China, it was 7,900-8,000 yuan/mt (50% metal content); in east China, the quoted price was 8,100-8,250 yuan/mt (50% metal content); in South Africa, the quoted price was 7,800-8,000 yuan/mt (50% metal content); and in Kazakhstan, the quoted price was 8,800-9,000 yuan/mt (50% metal content), unchanged from the previous trading day. The ferrochrome market operated strongly and steadily during the day, with an overall positive trading atmosphere. Production costs became the main supporting factor for manufacturers to refuse to budge on prices. Coupled with the rebound in downstream planned production and improved demand, the sentiment for ferrochrome inquiries and transactions strengthened.

In terms of raw materials, on August 7, 2025, the spot price of 40-42% South African fines at Tianjin Port was 54.5-55.5 yuan/mtu; the quoted price of 40-42% South African raw ore was 49-51 yuan/mtu; the quoted price of 46-48% Zimbabwe chrome concentrate fines was 57-58 yuan/mtu; the quoted price of 48-50% Zimbabwe chrome concentrate fines was 58-59.5 yuan/mtu; and the quoted price of 40-42% Turkish chrome lump ore was 60-61 yuan/mtu, unchanged from the previous trading day. In the futures market, 40-42% South African fines held steady at $267-270/mt; and 48-50% Zimbabwe chrome concentrate fines were offered at $330-340/mt. The chrome ore market operated mainly steadily during the day, with no price adjustments. The trading atmosphere in the spot market was calm, and manufacturers had limited demand for restocking raw materials. However, traders held high-cost chrome ore and had a strong sentiment to refuse to budge on prices. In the futures market, influenced by a bullish sentiment, traders actively purchased and built positions, with inquiries and transactions concentrated and released.