The raw material costs are rising, contact us for a real-time quote.

Close this search box.

What is The Chromium Metal Per Ton Price?

The Chromium metal price per ton has been on a roller coaster ride in recent years. After increasing steadily from 2004-2010, the price spiked in 2011 and then declined sharply over the next few years. However, prices have been climbing again since 2016.

As of Oct 2022, the chromium metal price was over $14,000 per ton(Mainly affected by the Russian-Ukrainian war), But what factors impact chromium prices? And what does this mean for buyers and suppliers of chromium metal? Read on to learn more about the chromium market.

It's many use

The chromium metal price per ton is a function of LME

The global ferrochrome market is closely linked to the London Metal Exchange’s (LME) settlement price for chromium, which drives the chromium metal price per ton. Steel producers commonly use ferrochrome to manufacture stainless steel products and the ferrochrome market is subject to rapid and volatile fluctuations in both supply and demand, impacting the prices of ferrochrome.

The increased demand for ferrochrome in China—due to the continued growth of its construction sector—as well as increasing recycling efforts globally is likely to cause an increase in ferrochrome prices in the coming years.

As a result, experts predict that by 2022, chromium metal prices per ton will increase considerably due primarily to rising demand from industries such as autos, consumer goods, solar energy, and stainless steel production.

Furthermore, macroeconomic factors such as government policies regarding ferrochrome exports could also impact chromium prices. Therefore, monitoring trends related to ferrochrome pricing is essential for producers looking to stay competitive in the market and ensure stability over time.

Can be safe photo

The chromium price is also influenced by the availability of supply and demand

The chromium metal price per ton can be affected by several factors, with the most significant being supply and demand.

When ferrochrome, a key alloying element used in steel production, is in high demand it is often accompanied by an increase in the price of chromium. This is particularly true when ferrochrome demand increases due to booming production in China or any other country that relies on ferrochrome for its alloy steel production.

Similarly, if ferrochrome production is reduced due to environmental regulations or natural disasters, this can have a knock-on effect on chromium prices. Another major influence on the price of ferrochrome and therefore chromium metal is how much ferrochrome producers feel they will get when they produce ferrochrome for export; this eventually affects how much chromium gets sold to third parties at a larger scale.

Finally, looking forward to 2022 and beyond, Africa and Europe’s share of market share within the ferrochrome industry has been gradually increasing, leading many experts to believe that their respective continents could play an even bigger role in influencing the global ferrochrome market (and possibly setting the future standard for chromium prices).

All these factors combined make predicting future trends for chromium metal prices difficult but important.

Get an instant quote from our most experienced consultants.