Chromium Price Today — Live Spot Rate and Market Data

The chromium price stands at $10,191.27 per tonne ($10.19/kg) as of 3 August 2026, according to SMM (Shanghai Metals Market), based on China 99% pure chromium metal — down from $10,797.87/tonne in July, a decline of approximately 5.6%. This partially reverses last month’s unusually sharp 7.4% rise, bringing the metal benchmark back toward a more typical monthly move. China remains the central pricing reference for chromium metal and its upstream products, given the country’s dominant position in global ferrochrome and stainless steel production.

Current Chromium Price

Chromium pricing operates across three distinct product stages, each with its own benchmark: chrome ore (the raw material), ferrochrome (the industrial alloy used directly in steelmaking), and pure chromium metal (a smaller, higher-value market). The table below shows current prices for chromium metal — the form most directly comparable to other critical minerals tracked on this page.

Pure chromium metal is a specialty product used in superalloys, specialty steels, and chromium plating chemicals — it represents a small fraction of total chromium demand compared with ferrochrome. Most chromium consumption never takes the form of pure metal at all; it moves directly from chrome ore to ferrochrome to stainless steel.

Ferrochrome Prices

Ferrochrome — an iron-chromium alloy — is the primary commercial form of chromium and the direct input for stainless steel production. Ferrochrome is priced per “reference tonne,” a unit standardised to a specific chromium content percentage (50% for high-carbon grades, 60% for low-carbon and micro-carbon grades) to allow comparison across material of varying composition.

Lower carbon content commands a substantial price premium: micro-carbon ferrochrome (C3 grade) trades at nearly double the price of standard high-carbon ferrochrome, reflecting the additional processing required to reduce carbon content for use in higher-specification stainless and specialty steel grades. Kazakhstan ferrochrome trades at a consistent premium to Chinese domestic grades, reflecting higher production costs and export logistics. Ferrochrome pricing has been notably more stable than the metal benchmark this cycle, with most grades moving less than 1% — a contrast worth noting against the metal tier’s sharper pullback.

Chrome Ore Prices

Chrome ore is the upstream raw material, mined primarily as chromite (FeCr2O4) and graded by chromium content. South Africa and Kazakhstan together account for the majority of global chrome ore production.

Chrome ore prices scale closely with chromium content — Turkey’s higher-grade 46-48% concentrate trades nearly double the price of Oman’s lower-grade 30-32% lump ore. China is overwhelmingly the destination market for internationally traded chrome ore, importing from South Africa, Turkey, Zimbabwe, Kazakhstan, and several smaller suppliers to feed its domestic ferrochrome industry. Ore pricing has held broadly steady this cycle, with the Turkey concentrate line unchanged and the other three grades up modestly (1–4%) — a firmer tone than the metal benchmark’s pullback would suggest, consistent with ore-level tightness persisting even as spot metal pricing eases.

Chromium Price Per Gram, Per Kilogram and Per Pound

The table below converts the current pure chromium price from the standard per-tonne benchmark into smaller units used by specialty alloy buyers and laboratory procurement teams.

These figures reflect 99% pure chromium metal. Ferrochrome — the form in which the vast majority of chromium is actually traded and consumed — is priced per reference tonne rather than by weight of contained chromium; see the ferrochrome table above for current alloy pricing. Prices are indicative and updated monthly. For contract pricing, consult Shanghai Metals Market directly.

Chromium Price History and Market Context

Chromium and ferrochrome pricing has historically tracked the stainless steel production cycle closely, since approximately 85% of chromium consumption goes into metal alloys, with stainless steel representing the dominant share. China’s position as both the largest stainless steel producer and the largest ferrochrome consumer means Chinese industrial activity and steel mill procurement tenders are the primary driver of near-term price direction.

The China Stainless Steel Mills’ Expected Price Index for high-carbon ferrochrome procurement tenders — currently $1,195.63 per 50-reference-tonne, down modestly from $1,210.97 in July — has eased only slightly even as the metal benchmark pulled back more sharply. This divergence, together with ferrochrome’s near-flat pricing and chrome ore’s modest firmness, suggests this month’s move is concentrated in the smaller, more spot-sensitive pure metal market rather than reflecting a genuine shift in underlying steel mill demand.

Chromium Price in USD, EUR, GBP and Other Currencies

Chromium and ferrochrome are priced and traded predominantly through Chinese domestic benchmarks, but European stainless steel producers, South African and Kazakh exporters, and Indian ferrochrome producers all transact across multiple currency zones. The table below converts the current pure chromium metal benchmark into the six currencies most relevant to CMN’s readership.

Exchange rates: Google Finance/XE, August 2026. CNY figures reflect the mid-market USD/CNY rate applied to the SMM USD-denominated benchmark, and may differ from prices quoted directly in RMB on Chinese domestic spot markets, which can range materially depending on grade and delivery terms.

What Drives the Chromium Price?

The chromium price and its related ferrochrome and chrome ore benchmarks are shaped by a concentrated set of supply and demand factors centred on the global steel industry.

Stainless Steel Demand

Stainless steel formation requires a minimum chromium content above 11%, and the metal’s role in providing corrosion resistance means there is no widely adopted lower-cost substitute at scale. Approximately 85% of chromium’s commercial use goes into metal alloys, overwhelmingly stainless and specialty steel. Global stainless steel production volumes, particularly from China — the largest producer and consumer — are therefore the single most important demand driver for chromium across the ore-to-ferrochrome-to-metal supply chain. This month’s pullback is concentrated in the pure metal tier rather than broad-based, with ferrochrome and ore pricing considerably steadier — consistent with underlying steel mill demand holding up even as spot metal trading eases.

Supply Concentration

South Africa accounts for roughly 40-48% of global chrome ore production depending on the year, with Kazakhstan, Turkey, and India as the next largest producers. Untapped chromite deposits remain geographically concentrated in Kazakhstan and southern Africa. This concentration creates meaningful supply chain exposure: any disruption to South African mining operations, export logistics, or Kazakh production has an outsized effect on global ferrochrome availability given the limited number of alternative large-scale sources.

Energy Costs and Smelting Capacity

Like silicon and aluminium, ferrochrome production via electric arc furnace smelting is energy-intensive. South African and Chinese smelters are both sensitive to electricity availability and cost, with South Africa’s periodic power grid constraints (load shedding) historically affecting ferrochrome export volumes. China’s domestic ferrochrome production, concentrated in Inner Mongolia and Sichuan, similarly depends on regional power costs and availability.

Carbon Content and Grade Premiums

The price differential between high-carbon, low-carbon, and micro-carbon ferrochrome reflects processing complexity rather than chromium content alone. Lower-carbon grades require additional refining and are used in higher-specification stainless steel and superalloy applications, including aerospace components and nickel-based superalloys used in jet engines and gas turbines. This grade premium structure means ferrochrome demand from advanced manufacturing and aerospace can move independently of bulk stainless steel demand.

Strategic and Defence Applications

Beyond stainless steel, chromium is essential to nickel-based superalloys used in jet engines and gas turbines, where high-temperature stability is critical. This strategic importance led the United States to classify chromium as essential to wartime industry as far back as the Second World War, and chromium supply security remains a consideration in defence industrial base planning given the concentration of ore production in a small number of countries.

Chromium Supply Chain and Critical Minerals Context

Chromium’s position in the critical minerals landscape reflects its irreplaceable role in stainless steel and superalloy production combined with significant supply concentration. South Africa, Kazakhstan, Turkey, and India together account for the substantial majority of global chrome ore production, with proven reserves similarly concentrated — Kazakhstan alone holds an estimated 320 million tonnes of reserves, with Zimbabwe holding even larger reserves of approximately 540 million tonnes despite far lower current production.

For Western manufacturers, this concentration creates a supply chain reliant on a small number of producing nations, none of which are major Western economies. The United States currently has negligible domestic chrome ore production despite holding some reserves, making the country reliant on imported ferrochrome and chromium metal for its stainless steel and superalloy industries.

For broader coverage of chromium’s role in defence and advanced manufacturing supply chains, see CMN’s Defence section.

This article is for informational purposes only and does not constitute investment advice. Prices are subject to change without notice.