- IMFA, Vedanta-FACOR maintain steady dispatches
- IMFA top buyer followed by Jindal Stainless
India’s chrome ore dispatches declined by 4% m-o-m to 192,011 t in December 2024, compared to 200,556 t in November. The drop was attributed to weak demand in the ferro chrome sector, with prices falling by INR 3,894/t ($45/t) exw-Jajpur during the month. Key factors affecting this decline were lower bids at OMC’s and FACOR’s auctions, tender price cuts by Chinese stainless steel producers, and sluggish demand in India’s stainless steel sector.
Dispatches from Odisha Mining Corporation (OMC) declined 17% m-o-m to 64,165 t in December. Meanwhile, dispatches from Indian Metals and Ferro Alloys (IMFA) and Vedanta-Ferro Alloys Corporation (FACOR) remained steady m-o-m. Tata Steel, however, recorded a 63% increase, with dispatches rising from 20,110 t in November to 32,760 t in December.
Procurement trends
IMFA emerged as the largest chrome ore buyer in December, sourcing the entire 54,366 t from its captive mines. Jindal Stainless ranked second, acquiring 67% (32,024 t) from OMC, 21% (10,011 t) from Tata Steel, and the remaining 5,441 t from its own mines.
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