International Chromium Ore Industry News

The interim financial results for the first half of 2026 released by South African chromium ore and ferrochrome producer Merafe Resources showed that, benefiting from rising chromium ore prices and a significant increase in sales volume, headline earnings reached R2,180 million (approximately US$31.98 million), representing a 64% increase over the R1,315 million recorded in the same period last year. However, Merafe also warned that the ferrochrome market could face an oversupply risk due to China's expansion of production capacity and weak demand for stainless steel. This warning reflects profound changes in the global ferrochrome market's supply-demand dynamics – the South African ferrochrome smelting industry has experienced a sharp decline, and a large volume of unprocessed chromium ore is primarily transported by sea to the Asian market; as a result, chromium ore has become the fastest-growing commodity in global dry bulk trade for 2026.
The Indian state-owned Odisha Mining Corporation (OMC) has lowered its reserve prices for chromium ore auctions in August by approximately 2% for each grade, equivalent to a reduction of ₹255–₹664 per ton (approximately USD 3–USD 7). During the auction held on August 19, OMC listed a total of 104 lots of ore; for most grades, bid prices fell by 1–2% compared to the previous auction period (₹141–₹566 per ton), while for a few grades, bid prices rose by 1–4% (₹236–₹884 per ton).
As a result, the price of high-carbon ferrochrome (HC 60%) in India fell by approximately ₹2,800/ton (US$29/ton) on a month-on-month basis in August, primarily due to weak purchasing interest and cautious procurement behavior among downstream users. As of August 20, the price of high-carbon ferrochrome (HC 60%, Si 4%) in India remained largely stable at ₹119,000/ton (US$1,244/ton) EXW Jajpur.
Canadian Chrome Company Inc. has proposed a private placement to raise up to US$8.4 million by issuing a maximum of 1.4 billion units at an issue price of US$0.006 per unit. The proceeds will be used for the company's daily operating expenses, operational costs, as well as the exploration and development of chromium and base metal deposits. Additionally, the company proposes to appoint Michael Minas as Vice President of Capital Markets. The company is currently conducting a strategic review, which includes potential options such as a sale, merger, or asset divestiture.