[SMM Chromium Daily Review] Steel Mills Raised Offers, Market Confidence Rebounded

On April 22, 2026, retail quotations for high-carbon ferrochrome remained unchanged, with Inner Mongolia high-carbon ferrochrome at 8,400-8,550 yuan/mt (50% metal content).

The ferrochrome market operated steadily during the day. TISCO announced its May 2026 tender price for high-carbon ferrochrome at 8,295 yuan/mt (50% metal content), up 100 yuan MoM. Market confidence was boosted, with some producers showing tentative willingness to raise prices and bullish sentiment emerging. However, as the timeframe was still short, market transactions had not yet seen a significant increase in volume. Attention going forward should be paid to whether mainstream steel mills such as Tsingshan will follow suit on steel mill tender prices and the release of downstream stainless steel demand.

Raw material side, on April 22, 2026, chrome ore spot prices were stable and futures prices remained firm. Tianjin port quotations 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, 40-42% South African fines were quoted at $318/mt this week, unchanged.

The chrome ore market performed steadily during the day, with the steel mill tender price increase boosting traders' confidence to hold prices firm. Spot side, port inventory of ordinary chrome ore fines stayed high, and suppliers still faced shipments pressure. However, downstream ferrochrome producers' purchase willingness had not yet improved significantly, with inquiries mainly driven by rigid demand. High-grade Zimbabwean chrome concentrate and mainstream lump ore remained supported in quotations due to relatively tight supply, while overall trading activity was sluggish, with most participants awaiting further steel mill tender follow-through and demand release signals. Futures side, major South African mines maintained quotations for 40-42% fines at $318/mt, with cost side fuel tightness supporting prices. However, domestic producers, affected by the steel mill tender cycle, showed limited willingness to purchase in large volumes, with only small rigid-demand inquiries. The market was moving sideways in a narrow range for the time being.