What are the latest market trends for chrome ore and ferrochrome?

At Chromium 2024 conference, ICDA Senior Market Research Analyst Tanya Atalay presented the latest supply-demand balance up to H1 2024. We are pleased to publish a summary of the latest figures, including a review of our Q1 2024 data.
Overall, China and South Africa continue to lead the global chromium market, displaying resilience amidst the global economic slowdown.
China’s demand for chrome ore and ferrochrome continues to grow, fueled by increased stainless steel output. However, oversupply is putting pressure on the market.
In Q2 and H1 2024, chrome ore production grew across most major regions on higher ferrochrome output, particularly in China. However, ferrochrome production in other regions has been impacted by weak downstream markets.
Currently China’s stainless steel sector is driving growth, while other regions face slow growth or declines.