Chrome Price in China
- China: $269/MT (Chrome, Lump, 38%)
In the second half of 2023, the average price of chrome in China was 269 USD/MT.
The latest report by IMARC Group, titled "Chrome Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of chrome prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Report Offering:
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The study delves into the factors affecting chrome price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/chrome-pricing-report/requestsample
Chrome Price Trend- Last Quarter
The chrome market is being driven by the growing demand for stainless steel, which relies on chromium for strength, corrosion resistance, and durability. Sectors like construction, infrastructure, and consumer goods are using stainless steel, which is catalyzing the demand for chrome. Besides this, the rising utilization of electric vehicles (EVs) is creating the need for specialty alloys. In addition, technological advancements are improving extraction efficiency of chrome, which is offering lucrative growth opportunities to industry investors.
Chrome Industry Analysis
In Europe chrome prices were influenced by strict environmental regulations in the second half of 2023 due to shift towards sustainable materials. High energy costs and dependence on imports affected production costs, while fluctuating currency values further complicated pricing. Demand from the automotive and aerospace industries added volatility, as these sectors required specialty metals.
In North America, chrome prices in H2 of 2023 were influenced by technological developments in extraction techniques. Defense and technology sectors, which require high-precision metals, created varying demand patterns. Trade policies, especially with key partners like Canada and Mexico, heavily impacted the supply chain. Furthermore, the region’s push for green energy and electric vehicles (EVs) introduced shifts in demand for chromium-based materials.
In the Middle East and Africa, chrome prices faced significant challenges during the second half of 2023 due to weak demand in the infrastructure projects and investments in transportation. Political stability and security also played crucial roles in ensuring uninterrupted production. The Middle East’s strategic push to diversify its economy and develop mining capabilities influenced both regional and global pricing. Africa’s resource abundance, along with foreign investments in mining, further shaped supply and pricing trends.
Asia Pacific chrome prices were driven by rapid industrial growth and infrastructure investments in the second half of 2023, particularly in China and India. However, geopolitical tensions and changes in mining regulations often disrupted supply, adding uncertainty to prices. Trade policies and tariffs also affected cost structures, making the region’s pricing landscape complex. This high-demand environment kept chrome prices highly sensitive to economic and political shifts.
In Latin America, chrome market prices experienced a bullish trend during H2 2023. Political instability and inconsistent regulations, however, contributed to price volatility. Infrastructure limitations and logistical challenges impacted the region’s ability to meet global demand efficiently. Currency devaluation and economic fluctuations further complicated the pricing landscape, making long-term market stability difficult to achieve.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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