[SMM Chromium Daily Review] Wait-and-See Sentiment Prevails, Chromium Market Prices Edge Lower

On April 16, 2026, high-carbon ferrochrome prices held steady, with Inner Mongolia high-carbon ferrochrome quoted at 8,450-8,550 yuan/mt (50% metal content).

The ferrochrome market remained stable during the day, with producers mainly adopting a wait-and-see approach toward next month's steel mill tender prices. Chrome ore showed a gradual downward trend, easing cost pressure on ferrochrome production and reducing the risk of cost inversion, with most producers maintaining normal production. However, power maintenance in the northern Inner Mongolia region affected production at some plants, and ferrochrome production in April was expected to decline to some extent. Considering the upcoming off-season for consumption, downstream stainless steel raw material procurement pace slowed down, with weak demand for ferrochrome, and the overall market maintained a tight balance. The ferrochrome market was expected to continue operating in the doldrums in the short term, awaiting the finalization of the new round of steel mill tender prices and the specific performance of stockpiling ahead of the Labour Day holiday.

Raw material side, on April 16, 2026, chrome ore spot prices were stable, while futures prices remained firm. Tianjin port quotes for 40-42% South African fines, 40-42% Turkish lump ore, and 48-50% Zimbabwean fines were flat compared with the previous trading day. On the CIF futures front, the offer price for 40-42% South African fines held steady at $318/mt.

The chrome ore market remained stable during the day, with traders lacking confidence and heavy wait-and-see sentiment, awaiting the new round of steel mill tender prices. On the spot front, chrome ore port inventory fluctuated at highs within a narrow range, and with sluggish purchasing demand from downstream ferrochrome producers, suppliers of South African fines and Zimbabwean fines softened their offers, entering a downward trajectory. On the futures front, there were no new quotes for 40-42% South African fines this week, but after three consecutive rounds of flat offers, market sentiment cooled somewhat. Uncertainty in the international landscape supported ex-China offers to stay high, but affected by fear of high prices and weak demand, domestic producers held off on large-scale position building and purchases, with limited actual transactions. The chrome ore market was expected to continue in a stalemate in the short term.