Chromium market holds onto five-year gains on robust demand, material shortage

Chromium prices held at a five-year high on Friday February 9 due to a severe shortage of material and strong downstream demand.

Metal Bulletin assessed in-warehouse chromium prices at $9,000-9,700 per tonne on Friday, stable with the previous week's assessment, and up 14% from January 26, when the market stood at $8,050-8,350 per tonne. Prices are at their highest level since March 2013. The shortage of material comes after Turkish industrial conglomerate Yildirim Group signed a seven-year offtake agreement to market chrome metal produced by Russia’s Midural Group through its trading subsidiary in Switzerland on December 15, 2017. The offtake - between Yildirim subsidiary Polymetcore Trading and Midural’s Kluchevsky Ferroalloy plant - covers all...

Published

Tanya Ashreena

February 12, 2018

15:01 GMT

London