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.

Chrome Prices December 2023:

• China: $269/MT (Chrome, Lump, 38%)

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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

Chrome, or chromium, is a hard, lustrous, and steel-gray metal known for its high corrosion resistance and shiny appearance when polished. Chrome is primarily used in metallurgy to impart hardness, durability, and resistance to corrosion in various alloys, particularly stainless steel. Its exceptional resistance to oxidation at high temperatures makes it valuable in industrial applications such as aerospace components, gas turbines, and automotive parts. Additionally, chrome plating is widely employed to enhance the aesthetic appeal and corrosion resistance of metals like steel and aluminum. Beyond metallurgical uses, chromium compounds find applications in diverse sectors, including leather tanning, textile manufacturing, and pigments for paints and dyes.

Chrome Industry Analysis

The global chrome market is driven by the stainless-steel industry as it is the largest consumer of chrome, utilizing it to impart corrosion resistance and strength to steel alloys, particularly in construction, automotive, and aerospace applications. In addition to this, in Asia Pacific, chrome prices are shaped by rapid industrial growth, especially in China and India, driven by construction and infrastructure investments. Concurrently, the expanding infrastructure development worldwide fuels demand for stainless steel, driving chrome consumption.

Moreover, ongoing technological advancements in metallurgy enhance chrome's utility in high-performance alloys, boosting demand from sectors requiring durable materials is contributing to the market expansion. In line with this, in North America the prices were influenced by advancements in extraction and processing technologies to cut costs. Demand from defense and technology sectors, trade policies with Canada and Mexico, and the move towards green energy and electric vehicles (EVs) also shape pricing dynamics. Likewise, in electronics, particularly in circuit boards and battery technologies, the chrome benefits from its conductivity and corrosion resistance, impelling the market growth.

Besides this, the automotive industry's shift towards lightweight materials to improve fuel efficiency and performance supports chrome's use in lightweight alloys, supporting the market expansion. Along with this, the aerospace sector's stringent requirements for materials with high strength-to-weight ratios and corrosion resistance are creating a positive outlook for market demand. In confluence with this, Europe's chrome prices are heavily impacted by strict environmental regulations favoring sustainable materials, particularly in the automotive and aerospace sectors. Energy costs and reliance on imports, coupled with currency fluctuations, further complicate pricing dynamics. Furthermore, the energy sector's need for corrosion-resistant materials in oil and gas extraction equipment and pipelines increases chrome consumption, strengthening the market growth.

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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