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
Chromium, sometimes known as chrome, is a steel-gray, strong, and glossy metal that resists corrosion well and looks shiny when polished. In metallurgy, chrome is mostly utilized to give alloys—especially stainless steel—hardness, durability, and corrosion resistance. Due to its remarkable ability to withstand oxidation at elevated temperatures, it finds extensive use in industrial settings, including gas turbines, automobile parts, and aerospace components. Furthermore, chroming is a common technique used to improve the corrosion resistance and visual attractiveness of metals like aluminum and steel. Chromium compounds are used in a wide range of industries besides metallurgy, such as the tanning of leather, the production of textiles, and as paint and dye pigments.
Chrome Industry Analysis
The largest user of chrome, the stainless-steel sector propels the worldwide chrome market. It uses chrome to give steel alloys strength and corrosion resistance, especially in construction, automotive, and aerospace applications. Furthermore, fast industrial growth in Asia-Pacific, particularly in China and India, which is fueled by investments in infrastructure and building, also influences chrome pricing. Concurrently, the world’s growing infrastructure development increases demand for stainless steel, which in turn increases use of chrome.
Furthermore, continued technological developments in metallurgy increase the use of chrome in high-performance alloys, increasing demand from industries needing long-lasting materials and supporting market growth. Accordingly, in North America, cost-cutting innovations in extraction and processing technologies had an impact on prices. The demand from the technology and defense industries, trade agreements with Canada and Mexico, the shift to renewable energy sources, and the adoption of electric vehicles (EVs) all influence pricing dynamics. Similarly, chrome’s conductivity and resistance to corrosion in electronics, especially in circuit boards and battery technologies, drive market expansion.
In addition, the use of chrome in lightweight alloys is supported by the automotive industry’s move towards lighter materials to enhance performance and fuel economy, which in turn supports market expansion. In addition, the aerospace industry’s strict specifications for corrosion resistance and high strength-to-weight ratios are fostering a favorable picture for market demand. Concurrently, stringent environmental rules that promote sustainable materials—particularly in the automobile and aerospace industries—have a significant impact on Europe’s chrome pricing. The dynamics of pricing are further complicated by energy prices, import dependency, and exchange rates. Additionally, the energy sector’s requirement for materials resistant to corrosion in pipelines and equipment for oil and gas extraction boosts chrome usage, supporting the market’s expansion.
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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