1、 Purchasing sentiment of chromium ore within the month

Since April, the release of purchasing emotions has been relatively stable. According to the weekly chart, the initial release of purchasing emotions for chrome ore has gradually eased. The market has different expectations for the rise and fall of chromium iron steel bidding prices in April, so the market's attitude towards purchasing raw material chromium ore tends to be wait-and-see. After the April steel price surge of 600 yuan for ferrochrome, the purchasing sentiment for chrome ore has recovered to some extent. However, the further strengthening of the price of chromium ore has increased the cost pressure for chromium iron factories to purchase raw materials, coupled with the risk of downstream demand caused by sudden changes in the macro situation, and the gradual and rapid rise of the US dollar to RMB exchange rate to around 7.3-7.35, which increases the risk of chromium ore receiving costs. The market is once again showing a certain wait-and-see attitude. As time gradually approaches the second half of the month, the bidding price for chromium iron steel is approaching, and the market continues to adopt a wait-and-see attitude, with a relatively relaxed release of purchasing sentiment. In summary, the chrome ore purchases in April were mainly driven by demand and bargain hunting. However, in reality, it was difficult to find low-priced chrome ore last month. In recent days, downstream information in the industry chain has been disrupted, and some chrome ore sellers have shown a slight increase in risk aversion and low-priced shipments.

2、 South African powder 40% -42% spot price review in April

As of April 22nd, the spot price of 40% -42% chromite ore in South Africa has continued to strengthen since April. South African powder spot resources are concentrated in the hands of a few top traders. Against the backdrop of market demand, South African powder spot is in short supply, resulting in strong prices. In addition, due to the high cost of receiving goods by traders in the early stage and the long holding time, the overall willingness to raise prices is relatively strong. At a time when it is difficult to purchase 40% -42% of South African powder in stock, South African raw ore and Zimbabwean powder are also favored by the market. Compared to other chromium ore varieties, there are more inquiries, so the price has increased accordingly.

3、 South African Pink 40% -42% Futures Price Review for April

As of April 22, the futures price of 40% -42% South African flour has maintained a strong trend since April. In terms of futures, the overall number of transactions is not high, but the transactions of South African powder futures are mostly at the pace of price increases. Affected by the strike in Mozambique, Africa in December 2024 and the continuous rainy weather in South Africa in the first quarter of 2025, the shipment and transportation of South African chrome ore futures have been restricted, affecting the arrival of chrome ore at Chinese ports. Due to limited spot resources of chrome ore and reluctance to sell, as well as a rise in prices for chrome iron and steel in April, the 40% -42% futures price of South African powder has continued to rise to $295-305 per ton since April. However, the current market has certain doubts about the high price trend in the future, and the release of buying sentiment is slow.

4、 Summary

At present, the overall price of chromium ore is stable, but there are limitations in the downstream market of the industrial chain. There is a slight change in the mentality of chromium ore, and some market participants have increased their risk aversion. There are a small number of low-priced transactions and shipments, but the spot bidding of chromium mines supports the market, giving market confidence. Coupled with the downstream chromium iron fundamentals, there is still a gap state. On April 22, the May steel bidding price for ferrochrome at Qingshan Stainless Steel Plant surged by 500 yuan to 8095 yuan/50 basis tons. The price increase of ferrochrome steel has given confidence to the chromite market, and it is expected that chromite prices will maintain a stable, medium to strong operating state.