[SMM Chrome Daily Review] Market Ran Steadily After the Holiday, Demand Remained Subdued and Trading Was Slightly Mediocre

On April 7, 2026, high-carbon ferrochrome prices saw no adjustment, with Inner Mongolia high-carbon ferrochrome quoted flat at 8,600-8,650 yuan/mt (50% metal content).

The ferrochrome market operated steadily during the day. Affected by post-holiday demand not yet fully released, trading activity appeared somewhat mediocre. Cost side, stable chrome ore prices supported ferrochrome producers' willingness to hold prices firm, while the downstream stainless steel market maintained high production schedules but had sufficient raw material inventory, with just-in-time procurement as the main approach and no concentrated stockpiling actions for now. High-carbon ferrochrome prices are expected to remain stable in the short term.

Raw material side, on April 7, 2026, chrome ore spot prices remained stable, and futures prices stayed firm. At Tianjin Port, 40-42% South African fines, 40-42% Turkish chrome lump ore, and 48-50% Zimbabwean fines were flat from the previous trading day. On the CIF futures front, the latest offer for 40-42% South African fines was flat at $318/mt.

The chrome ore market operated steadily during the day. Affected by the slowdown in downstream demand release pace, trading activity was mediocre. On the spot front, South African fines port inventory held steady at high levels, and traders faced significant shipments pressure, with offers revised downward. Mainstream ore types, due to a notable shortage of spot cargo, still maintained willingness to hold prices firm, with offers seeing no adjustment for now. Futures side, major South African fines miners offered firm prices, but China buyers were cautious in making purchases, with the overall market adopting a wait-and-see stance. Going forward, attention should be paid to changes in South African chrome ore mining costs driven by fuel price raises and the implementation of China's ferrochrome production schedule plans. Chrome ore market is expected to remain largely stable in the short term.