[SMM Chromium Daily Review] Post-Holiday Market Remains Stable, Chromium Producers Hold Prices Firm

On January 5, 2026, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,050-8,150 yuan/mt (50% metal content); in Sichuan and north-west China, the ex-factory price of high-carbon ferrochrome was 8,100-8,200 yuan/mt (50% metal content); in east China, the offer price for high-carbon ferrochrome was 8,300-8,400 yuan/mt (50% metal content), flat MoM from the previous trading day. For imported ferrochrome, the offer price for South African high-carbon ferrochrome was 8,200-8,300 yuan/mt (50% metal content); the offer price for Kazakh high-carbon ferrochrome was 9,000-9,100 yuan/mt (50% metal content), flat MoM from the previous trading day.

After the New Year's Day holiday, the ferrochrome market performed steadily overall, with no price adjustments. The rebound in stainless steel futures and spot prices boosted market sentiment and drove an increase in purchasing demand for ferrochrome. With profit margins secured, ferrochrome producers maintained stable production, and output further increased. Overall, supply and demand remained in a tight balance, and the sentiment to hold prices firm persisted. The market is expected to maintain stable operation in the short term.

Raw material side, on January 5, 2026, the spot offer price for 40-42% South African fine ore at Tianjin Port was 52.5-53 yuan/mtu; the offer price for 40-42% South African raw ore was 48-50 yuan/mtu; the offer price for 46-48% Zimbabwean chrome concentrate was 54-55 yuan/mtu; the offer price for 48-50% Zimbabwean chrome concentrate ore was 55-56 yuan/mtu; the offer price for 40-42% Turkish lumpy ore was 59-60 yuan/mtu; the offer price for 46-48% Turkish chrome concentrate was 60.5-61.5 yuan/mtu, up 0.5 yuan/mtu MoM from the previous trading day. On the futures side, the offer price for 40-42% South African fine ore was $263-265/mt.

After the New Year's holiday, activity in the chrome ore market rebounded during the day. High ferrochrome production schedules supported purchasing demand for ore, and inquiries gradually increased recently due to stockpiling considerations. Mainstream lump ore remained in short supply, with strong sentiment to hold prices firm. Most traders of South African fine ore were awaiting the new round of overseas market offers, with relatively optimistic expectations for the future market. On the futures side, affected by the overseas Christmas holiday, there was no new round of offers for 40-42% South African fine ore futures. Considering the decrease in purchase costs due to the decline in the US dollar to yuan exchange rate and the presence of inquiries from domestic traders, the market is watching to see if overseas market offers might be raised. The chrome ore market is expected to operate steadily in the short term.