[SMM Chromium Flash] China’s High-Carbon Ferrochrome Output Falls 3.88% MoM in October, YoY Growth Narrows to 10.27%

Published: Nov 06, 2026 14:35 (GMT+8)

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SMM data showed that China’s high-carbon ferrochrome output in October 2026 fell 3.88% MoM, the third straight monthly decline and a wider drop than September’s 3.17%. Output was up 10.27% YoY, a sharp slowdown from 18.8% in September, and January to October output was up 28.48% YoY, down from 30.84% at the end of September.

The weaker numbers reflect both demand and base effects. The usual September to October peak season failed to lift stainless steel demand, and major mills cut their October ferrochrome tender prices, which weakened market confidence and squeezed producer margins, leading to further output cuts. The much slower YoY growth also reflects a higher base, because output in October last year rebounded on stronger peak-season demand and rose 3.55% MoM. The easing YTD growth rate shows that the output surge earlier this year is fading.

With supply still ample against soft demand, SMM expects output to stay under pressure in the near term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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