May 2025
The global chrome ore market is a key part of the mineral trade, mainly because chrome is used to make stainless steel, car parts, and strong special metals that can handle extreme heat, pressure, and corrosion. These strong metals are essential in industries like aerospace, defense, and chemical processing. Chrome ore is mined mostly from two types of deposits and is used to make ferrochrome and pure chromium, materials found in almost everything ranging from kitchenware to missile parts. Even the chemical industry uses chromium for leather tanning, wood treatment, and making pigments and dyes.
South Africa remains the leading global producer, contributing approximately 40% of global supply and possessing the largest known reserves. However, its dominance is increasingly challenged by rising electricity tariffs, persistent logistical constraints, and intensifying global competition, particularly from China and Turkey.
Despite these challenges particularly faced by the country that drives the chrome market, the industry recorded notable growth in 2023, with chrome ore trade volumes reaching an estimated $7.57 billion, representing a 65.5% year-on-year increase, largely attributed to the stainless steel sector’s expansion.
This report provides a concise overview of the chrome ore market landscape and offers strategic insights for prospective traders, highlighting key risks, opportunities, and practical guidelines to support informed decision-making and sustainable participation in the trade
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