Chromium prices tighten as ore costs rise

Chromium prices moved up on the low end on Friday September 16 on the back of increases in the price of chrome ore.

Metal Bulletin’s chromium price rose to $7,000-7,400 per tonne, from $6,900-7,400 previously, as producers reported high costs of raw materials. Chrome ore prices were up 5.6% week-on-week at $185-190 per tonne cif main Chinese ports on Friday.

“Ore prices are up and looking like they’re getting higher going into Q4,” one trader said. “Producers will be getting squeezed on margins at this level and most have upped their offers.”

“I’m actually looking for some chromium at the moment,” another buyer said. “I can’t find any cheap stuff on the ground in Europe, so it looks like things could be in for a move [up].”

Chromium prices have been slowly declining over the past twelve months from $8,300-8,700 to the recent low of $6,900-7,400. Ore prices meanwhile declined going into 2016, but have been steadily rising since February and are now $40 higher than they were this time last year.

Demand for chrome metal is also rising, according to one trader, as more oil rigs come online and the metal is needed in coatings for gas turbines that power the platforms.

“I’m hearing an improvement on the [industrial gas turbine] side,” the trader said. “This seems to be primarily as a result of an increase in the amount of oil rigs coming online.”

What to read next
After market feedback, Fastmarkets is extending the consultation period for its proposal to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.
Fastmarkets invites feedback on the pricing methodology for its aluminium 6063 extrusion billet premiums ddp Italy, ddp North Germany and ddp Spain ahead of the definitive period of the EU’s Carbon Border Adjustment Mechanism (CBAM), which starts from January 2026.
The publication of Fastmarkets’ MB-ALU-0001 Alumina metallurgical grade, exw China, yuan/tonne for Thursday December 12 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated.
The publication of Fastmarkets’ MB-CO-0021 Cobalt hydroxide payable indicator, min 30% Co, cif China assessment on Wednesday December 12 was delayed because of an approver error. Fastmarkets’ pricing database has been updated.
Fastmarkets’ iron ore DR-grade pellet premium indicator was published earlier than scheduled due to an error on Wednesday December 11.
The publication of Fastmarkets’ Japan export steel scrap assessments for Wednesday December 11 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated.