[SMM Chromium Daily Review] Quotations Continue to Rise, Chromium Market Holds Up Well

On January 13, 2026, the ex-factory price for high-carbon ferrochrome in Inner Mongolia was 8,300-8,400 yuan/mt (50% metal content); in Sichuan and north-west China, it was 8,400-8,500 yuan/mt (50% metal content); in east China, the quotation for high-carbon ferrochrome was 8,500-8,600 yuan/mt (50% metal content), up 100 yuan MoM from the previous trading day; for imported ferrochrome, Indian high-carbon ferrochrome was quoted at 8,500-8,600 yuan/mt (50% metal content); Kazakhstan high-carbon ferrochrome was quoted at 9,100-9,200 yuan/mt (50% metal content), up 50 yuan MoM from the previous trading day.

During the day, the ferrochrome market held up well, with purchasing demand from the downstream stainless steel market and tight spot supply supporting producers' intentions to hold prices firm and explore higher levels. Prices were steadily raised. On the cost side, chrome ore prices continued to rise, with high-priced futures arriving at ports further increasing production costs, thus strengthening the bottom support for ferrochrome prices. Considering the increased production schedules as stainless steel profits recover, the market generally holds optimistic expectations, and in the short term, ferrochrome prices are expected to remain strong.

In terms of raw materials, on January 13, 2026, the spot price for 40-42% South African powder at Tianjin Port was 53-54 yuan/mtu; 40-42% South African raw ore was quoted at 50-52 yuan/mtu; 46-48% Zimbabwean chrome concentrate was quoted at 56-57 yuan/mtu; 48-50% Zimbabwean chrome concentrate ore was quoted at 57.5-58.5 yuan/mtu; 40-42% Turkish chrome lump ore was quoted at 60-62 yuan/mtu, and 46-48% Turkish chrome concentrate ore was quoted at 62.5-63.5 yuan/mtu, up 0.5 yuan/mtu MoM from the previous trading day; in the futures market, 40-42% South African powder was quoted at $268-270/mt, up $5/mt MoM.

During the day, chrome ore prices continued to rise, with traders holding prices firm. Granular ore supply remained tight, providing solid support for quotations; demand for South African raw ore increased, with concentrated inquiries and good transaction performance; Zimbabwean concentrate prices were stable and rising due to policy adjustments and shipping restrictions; the psychological price level for South African powder ore increased, but given the high inventory levels at ports, there was cautious observation. Overall, in the short term, chrome ore prices are expected to be generally stable with a slight rise. In the futures market, the overseas market quote for South African chrome ore was $268/mt, but the spot order transaction price had already moved up to $272/mt, and under strict control, domestic traders faced some limitations in taking delivery. The export policies for Zimbabwean chrome ore and the impact of the rainy season on mining and shipping suggest that there is still upside room for future prices.