Menu
Menu
Netherlands
United States
China
IndiaQ1 2025
In Q1 2025, the chromium market experienced a notable price decline, with values falling by $8,221 per metric ton, FOB Shanghai marking a 1.01% decrease. This downward trend suggests a combination of softening demand and improved supply dynamics.
Factors potentially influencing the price drop include reduced industrial activity in key consuming sectors such as stainless-steel manufacturing, shifts in global trade patterns, and stabilization in mining output following previous supply chain disruptions. While the percentage decline appears modest, the significant absolute price drop underscores the high base value of chromium and the market’s sensitivity to macroeconomic indicators and inventory levels.
Q4 2024
In Q4 2024, the price of chromium experienced a notable decline, dropping by $8,304 per metric ton, FOB Shanghai representing a 5.94% decrease. This downturn reflects a combination of softer demand from key industrial sectors such as stainless-steel production and potential oversupply in the global market.
Macroeconomic uncertainties, including slower growth in major consuming countries like China, likely contributed to weakened consumption patterns. Additionally, increased output from major producers or a drawdown in strategic reserves may have added downward pressure on prices. This price movement signals a cooling phase in the chromium market after periods of volatility earlier in the year.
Q3 2024
In Q3 2024, the chromium market experienced a notable downturn, with Chromium prices declining by $8,829 per metric ton, FOB Shanghai representing a 0.95% decrease. This price shift reflects a combination of subdued demand from key end-use sectors, such as stainless steel and aerospace, and an oversupply from major producing regions.
The relatively modest percentage change, despite the significant absolute drop, suggests chromium was trading at a high baseline price, highlighting the market’s previous inflationary trend. Global economic uncertainties and a potential slowdown in industrial output likely contributed to this downward pressure, prompting cautious sentiment among buyers and producers alike.
Q2 2024
In the second quarter of 2024, the price of chromium experienced a notable increase, rising by $8,914 per metric ton, FOB Shanghai which represents a 1.65% gain. This upward trend suggests tightening supply conditions or increasing demand in key industries such as stainless-steel manufacturing and aerospace.
The modest percentage rise despite a substantial price jump in dollar terms indicates that chromium was already trading at a high base price. Market dynamics, including geopolitical factors, export restrictions, or shifts in production from major suppliers like South Africa or Kazakhstan, may have contributed to this increase. Overall, the Q2 2024 price movement reflects a stable yet upward-pressured chromium market.
Q1 2024
In the first quarter of 2024, the chromium market experienced a notable downturn, with prices decreasing by $8,770 per metric ton, FOB Shanghai reflecting a 2.74% decline. This drop highlights a shift in supply-demand dynamics, potentially driven by increased global production, easing logistical constraints, or softened demand from key industries such as stainless steel and aerospace manufacturing.
Additionally, macroeconomic factors like slowed industrial activity in major economies or shifts in trade policies could have contributed to the reduced pricing. The decline signals a period of adjustment in the chromium sector, prompting stakeholders to reassess their strategies in anticipation of further market fluctuations.
Q1 2025
In Q1 2025, India’s chromium market experienced a notable price increase of $8,723 per metric ton, CIF Nhava Sheva (China) reflecting a 1.52% rise. This uptick is attributed to several factors, including a 21% year-on-year increase in ferrochrome production during the first half of FY2024–25, driven by higher stainless-steel production and increased demand for superior stainless-steel grades.
Additionally, the use of nickel pig iron (NPI) in stainless steel manufacturing has led to higher ferrochrome consumption. However, challenges such as deteriorating chrome ore grades and weak export demand, particularly from China, have impacted market dynamics. Despite these pressures, the price rise indicates a cautious optimism in the market, with expectations of improved demand following government infrastructure initiatives.
Q4 2024
In the fourth quarter of 2024, chromium prices in India fell by $8,592 per metric ton, CIF Nhava Sheva (China) marking a 4.76% decline. This drop was primarily driven by subdued demand from key industries such as stainless steel and specialty chemicals, which are major end-users of chromium. Additionally, global supply outpacing demand and a slowdown in industrial activity contributed to the downward price pressure.
Despite these market challenges, companies like Vishnu Chemicals Ltd (VCL) are taking strategic steps to buffer the impact. VCL’s backward integration through the acquisition of a chrome ore mine in South Africa, along with its forward integration into chrome metal production, is aimed at improving supply stability and maintaining profitability amid market fluctuations.
Q3 2024
In the third quarter of 2024, chromium prices in India saw a modest increase of $9,021 per metric ton, CIF Nhava Sheva (China) marking a 0.30% rise. This price movement was largely influenced by supply limitations due to reduced output from local producers who shifted focus towards manganese alloys, which offered higher profitability despite increased production costs. Furthermore, a major ferrochrome supplier withdrawing from the market further tightened spot availability.
Q2 2024
In Q2 2024, Chromium India experienced a notable price increase of $8,995 per metric ton, CIF Nhava Sheva (China) reflecting a 2.41% rise compared to the previous quarter. This upward adjustment highlights strengthening demand dynamics and potential supply constraints within the chromium market. The price hike may also be influenced by global raw material cost pressures and inflationary trends impacting input costs.
As a critical alloying element in stainless steel production, chromium’s price sensitivity to industrial activity suggests that this increase could affect downstream manufacturers, potentially leading to higher end-product prices. Overall, the 2.41% price growth indicates a cautiously optimistic market outlook for Chromium India, balancing steady demand against tightening supply factors.
Q1 2024
In Q1 2024, Chromium prices in India experienced a notable decline, dropping by $8,783 per metric ton, CIF Nhava Sheva (China) which translates to a 1.06% decrease compared to the previous quarter. This downward trend reflects a moderation in demand within key industrial sectors such as stainless-steel manufacturing and alloy production, possibly influenced by global supply chain adjustments and shifting market dynamics. Despite the price reduction, the decrease remains relatively modest, indicating that while there is some pressure on pricing, the overall market for chromium continues to maintain stability in India’s industrial landscape.
PriceWatch is your trusted resource for tracking global chromium price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the chromium market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence chromium prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely chromium market data.
Track PriceWatch's chromium price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Chromium is a hard, lustrous, and corrosion-resistant metal primarily used as an alloying element to enhance the durability, strength, and wear resistance of materials. Its most notable application is in the production of stainless steel and other corrosion-resistant alloys, where it significantly improves surface hardness and longevity. Chromium is also used in electroplating to provide a shiny, protective coating on metal surfaces and in various industrial applications, including refractory materials, pigments, and catalysts. Its role is vital in both the metallurgical and chemical industries, contributing to product performance, appearance, and resilience.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Chemical Formula | Cr |
| Purity | ≥ 99.0% (High-purity grades may exceed 99.5%) |
| Appearance | Silvery-white, hard, brittle metal |
| Density | 7.19 g/cm³ |
| Melting Point | 1,907°C (3,465°F) |
| Boiling Point | 2,671°C (4,840°F) |
| Hardness (Mohs) | 8.5 |
| Tensile Strength | ~560 MPa (varies with form and purity) |
| Electrical Resistivity | ~12.9 μΩ·cm at 20°C |
| Thermal Conductivity | ~93.9 W/m·K |
Applications
• Raw Material Availability – Chromium is primarily obtained from chromite ore. The availability and quality of chromite deposits significantly influence chromium prices.
• Supply and Demand – High demand from industries such as stainless-steel production, aerospace, and electroplating can push prices up. Conversely, decreased industrial activity or oversupply can reduce prices.
• Mining and Production Costs – The costs associated with extraction, refining, energy consumption, and labour directly affect chromium pricing.
• Environmental Regulations – Stricter environmental and safety regulations in mining regions can increase production costs and impact supply, thereby affecting prices.
• Geopolitical Factors – Political instability in major chromium-producing countries (like South Africa, Kazakhstan, and Türkiye) can disrupt supply chains and influence global prices.
• Global Trade Policies & Tariffs – Export restrictions, import duties, and international trade agreements can impact chromium prices on the global market.
• Technological Advancements – Innovations in mining, processing, or material substitution can influence both production efficiency and demand, affecting overall pricing.
• Exchange Rates – Since chromium is traded internationally, fluctuations in currency exchange rates can impact prices in different regions and markets.
• Stockpiles and Inventories – Government and private sector stockpiling or liquidation of reserves can affect the balance of supply and demand, influencing price trends.
The availability and cost of raw materials such as high-carbon steel and alloy coatings directly affect chromium production costs and pricing.
Chromium prices generally rise with inflation, driven by higher energy, mining, and transportation costs. However, consistent demand from the stainless steel and aerospace industries often supports price stability, even amid broader economic pressures.
PriceWatch offers a range of tools and services to track commodity prices effectively:
Real-Time Data: Access market intelligence and data on global chromium supply chains.
Expert Analysis: Insights into market trends and potential risks.
Risk Assessment: Tools to evaluate supply chain vulnerabilities.
Benchmarking: Compare chromium prices and sourcing practices.
Supplier Intelligence: Information on supplier reliability and financial health.
Copyright 2025. All rights reserved. Nidhyana Price Watch Data Analytics Private Limited