[SMM Chromium Daily Review] Market Remained Stable, with Limited Short-Term Fluctuations

On May 27, 2026, retail quotations for high-carbon ferrochrome remained unchanged, with Inner Mongolia high-carbon ferrochrome holding steady at 8,250-8,400 yuan/mt (50% metal content).

The ferrochrome market operated steadily during the day. Mainstream steel mills' June tender prices settled flat, in line with earlier market expectations, and overall sentiment leaned toward cautious wait-and-see. Downstream stainless steel purchase activity remained relatively mediocre recently, but with no production cut or maintenance news for now, and planned production staying high, rigid demand support for ferrochrome persisted given the continuous depletion of raw material inventory. In addition, chrome ore prices stopped falling and costs stabilized, limiting the risk of a deep decline in ferrochrome prices. Ferrochrome prices are expected to mainly move sideways in the short term.

Raw material side, on May 27, 2026, quotations at Tianjin port for 40-42% South African fines, 40-42% Turkish lump ore, and 48-50% Zimbabwean fines remained flat compared to the previous trading day. On the CIF futures front, the latest quotation for 40-42% South African fines was $300/mt.

The chrome ore market operated steadily during the day, with quotations unchanged. Spot cargo side, downstream inquiry and purchase activities were limited, and the overall trading atmosphere was sluggish. High port inventory of chrome ore increased shipment pressure on traders, but high-priced futures cargoes arriving at ports provided bottom cost support, leaving limited room for price concessions. Suppliers quoted cautiously, awaiting demand release. Futures side, the latest quotation from major ex-China South African fines mines held steady at $300/mt, and market confidence was somewhat boosted after the steel mill tender prices settled flat. The spread between futures and spot prices narrowed. Combined with ferrochrome production staying at high levels, downstream ferrochrome plants recently increased direct purchases, while traders mostly adopted a wait-and-see stance with limited transactions, and the market overall continued to operate steadily.