[SMM Chromium Daily Review] Stalemate in Tug-of-War between Sellers and Buyers Chromium Market Temporarily Steady

Published: Aug 12, 2026 15:26

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[Tug-of-War Between Sellers and Buyers in Stalemate, Chrome Market Temporarily Stable] News on August 12, 2026: The ferrochrome and chrome ore market fluctuated slightly...

On August 12, 2026, retail quotations for high-carbon ferrochrome dipped slightly, with Inner Mongolia high-carbon ferrochrome at 7,850-8,000 yuan/mt (50% metal content).

The ferrochrome market was mostly in the doldrums during the day, with retail quotations down 25 yuan/mt (50% metal content) from the previous day. Still in the off-season, downstream demand was weak, steel mills showed limited buying appetite, inquiries were scant, and ferrochrome producers faced difficulties selling. Coupled with high ferrochrome production, oversupply weighed on market confidence, keeping ferrochrome prices under pressure. However, chrome ore prices have stopped falling and stabilized, and production cost fluctuations were limited, providing bottom support for ferrochrome and leaving little room for a sharp decline in the short term. The market is expected to remain in the doldrums.

On the raw material side, on August 12, 2026, quotations at Tianjin port for 40-42% South African powder, 40-42% Turkish lump ore, and 48-50% Zimbabwean powder were unchanged from the previous trading day. On CIF futures, the latest quotation for 40-42% South African powder was $285/mt.

Chrome ore market prices were temporarily stable during the day, with buyers and sellers in a stalemate. In the spot market, inquiries recovered but actual transactions were sluggish. Downstream ferrochrome producers maintained high production but mostly consumed their own raw material inventories, with no plans for concentrated purchasing; inquiries were mainly driven by rigid demand. Supply of South African powder ore was ample, while high-grade chrome concentrate powder and mainstream chrome ore were tight, hence prices were firmer. On the futures side, disrupted by Middle East conflicts, shipping costs stayed high and overseas market quotations moved steadily upward. Quotations from major overseas mines for 40-42% South African powder were raised to $285/mt, providing some support to the Chinese market. However, chrome ore port inventories remained high, increasing selling pressure on traders, and destocking was difficult in the short term. Overall, the chrome ore market is expected to remain stable in the short term, with attention on subsequent downstream demand and port destocking trends.

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