Glencore reports sharp drop in ferrochrome output while chrome ore production holds steady

Glencore has released its production figures for the first half of 2026, revealing a dramatic 75% plunge in attributable ferrochrome output, while chrome ore volumes remained relatively stable.

According to the company's Half-Year Production Report, attributable ferrochrome production-representing its 79.5% stake in the Glencore-Merafe Chrome Venture-fell to just 110,000 tonnes in H1 2026, a steep decline of 323,000 tonnes from the 433,000 tonnes recorded in the same period of 2025. Glencore attributed the collapse to the fact that chrome smelting "remained largely on care and maintenance during H1 2026."

By contrast, attributable chrome ore production from the same venture totalled 1,647,000 tonnes in H1 2026, down only 4% (or 70,000 tonnes) from 1,717,000 tonnes in H1 2025. The company offered a notably terse explanation for this marginal decrease, citing simply "operating conditions over the period"-a far milder characterization than the smelter-specific language applied to its ferrochrome operations.