On October 16, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,400-8,550 yuan/mt (50% metal content); in Sichuan and north-west China, the ex-factory price was 8,500-8,600 yuan/mt (50% metal content); in east China, the offer price was 8,500-8,700 yuan/mt (50% metal content), down 25 yuan/mt (50% metal content) MoM from the previous trading day. For imported ferrochrome, the offer price for South African high-carbon ferrochrome was 8,100-8,400 yuan/mt (50% metal content); the offer price for Kazakh high-carbon ferrochrome was 9,100-9,400 yuan/mt (50% metal content), flat MoM from the previous trading day.
The ferrochrome market operated steadily during the day, with offers slightly lowered, but transactions remained limited. The downstream stainless steel market remained weak, translating to mediocre purchase willingness for ferrochrome, exerting some downward pressure on prices. Coupled with the recent decline in chrome ore prices and loosening ferrochrome costs, support for prices weakened. Overall, downstream stainless steel production schedules remain high, creating rigid demand for ferrochrome. The market is mainly watching for the new round of steel mill tender prices, and the ferrochrome market is expected to maintain stable operation in the short term.
On the raw material side, on October 16, 2025, the spot offer for 40-42% South African fines at Tianjin Port was 56-57 yuan/mtu; for 40-42% South African raw ore, it was 51.5-53 yuan/mtu; for 46-48% Zimbabwean chrome concentrate, it was 58-59 yuan/mtu; for 48-50% Zimbabwean chrome concentrate ore, it was 59-62 yuan/mtu; for 40-42% Turkish chrome lump ore, it was 60-61 yuan/mtu; for 46-48% Turkish chrome concentrate, it was 66-67 yuan/mtu, down 1 yuan/mtu MoM from the previous trading day. For futures, the offer for 40-42% South African fines was $280-284/mt; for 48-50% Zimbabwean chrome concentrate, it was $345-355/mt, flat MoM from the previous trading day.
The chrome ore market showed mediocre performance during the day, with inquiries increasing but actual transaction volumes limited. Ferrochrome producers, still holding raw material inventory, were not urgent to purchase, and their counteroffers to drive down prices intensified. However, considering the rising cost of chrome ore arriving at ports, traders showed reluctance to budge on prices, leading to back-and-forth negotiations between upstream and downstream. In the futures market, the latest offer for 40-42% South African fines remained flat at $282/mt. Traders, considering the high subsequent costs, showed mediocre purchase willingness. Chrome ore prices lacked further upward momentum. Under the influence of sustained supply increases, the market generally holds some concerns about the future outlook. However, high ferrochrome production supports stable chrome ore prices in the short term, with possible minor fluctuations, as the market mainly awaits the new round of steel mill tender prices.
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