On August 13, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 7,900-8,000 yuan/mt (50% metal content); in Sichuan and north-west China, it was also 7,900-8,000 yuan/mt (50% metal content); in east China, the quoted price was 8,100-8,250 yuan/mt (50% metal content); in South Africa, it was 7,800-8,000 yuan/mt (50% metal content); and in Kazakhstan, it was 8,800-9,000 yuan/mt (50% metal content), unchanged from the previous trading day on a MoM basis.
The ferrochrome market held up well during the day, with producers strongly bullish on the future market and still reluctant to budge on prices. The sixth round of coke price increases was underway, and spot chrome ore prices continued to rise, keeping smelting costs for ferrochrome at highs and providing strong support for prices. The positive impact of macro policies persisted, with the downstream stainless steel market performing well. High planned production drove an increase in demand for ferrochrome, and significant overseas production cuts in ferrochrome placed the overall supply and demand for ferrochrome in a tight balance. Driven by optimistic expectations, the ferrochrome market mostly held steady or was bullish on the September steel mill tender price for ferrochrome, and it is expected that the ferrochrome market will continue to hold up well.
In terms of raw materials, on August 13, 2025, the spot price of 40-42% South African powder ore at Tianjin Port was 55-56 yuan/mtu; 40-42% South African raw ore was quoted at 49-51 yuan/mtu; 46-48% Zimbabwe chrome concentrate powder was quoted at 58-58.5 yuan/mtu; 48-50% Zimbabwe chrome concentrate powder ore was quoted at 58.5-60 yuan/mtu; and 40-42% Turkish chrome lump ore was quoted at 60-61 yuan/mtu, with some prices rising by 0.5 yuan/mtu from the previous trading day. On the futures front, 40-42% South African powder ore was offered at $267-275/mt, and 48-50% Zimbabwe chrome concentrate powder was offered at $335-345/mt, up $2.5/mt MoM.
During the day, chrome ore prices rose slightly, with inquiry enthusiasm increasing and transaction activity improving. On the one hand, most of the chrome ore arriving at ports recently was from high-priced sources in the early period, and traders' holding costs were high, highlighting their bullish and price-testing mentality. On the other hand, chrome ore supplies were relatively concentrated, and under the bullish expectations of traders, they were reluctant to sell and held onto their stocks, driving up spot chrome ore prices. In addition, news of South Africa's chrome ore export tax and Zimbabwe's complete ban on chrome ore exports continued to attract market attention, and policy developments and their potential impacts will be closely monitored in the future.
