I. Spot Market: Price centre shifted lower, trading sentiment subdued
Last week, the spot metallic chromium market continued its weak performance, with the price centre moving further down. As of July 6, the actual-weight quoted price for metallic chromium stood at RMB 66,000–76,000/tonne, down from the previous week. In the prior week (June 29), the actual-weight quote was RMB 72,000–78,000/tonne, a decline of RMB 500/tonne week-on-week; the quote on June 22 was still at RMB 74,000–79,500/tonne. The price trend shows that metallic chromium has been on a continuous downward track for several weeks.
Regionally, on July 13, the spot quote for metallic chromium (JCr99-A) in Liaoning was RMB 71,000/tonne, unchanged over the past week; on the same day in Shanghai, the spot quote for the same grade was RMB 71,500/tonne, also showing no significant fluctuation in the past week. The Yangtze River Nonferrous Metals Market reported on July 13 a spot price range of RMB 72,000–75,000/tonne, with an average of RMB 73,500/tonne.
From a longer-term perspective, price declines were more pronounced in early July. On July 1, the spot quote for metallic chromium (JCr99-A) in Liaoning was RMB 72,500/tonne, down RMB 1,500/tonne from the previous trading day, a drop of 2.03%; the Shanghai quote was RMB 73,000/tonne, also down by RMB 1,500/tonne. In the most recent week (through July 3), the Liaoning price had accumulated a decrease of RMB 3,750/tonne, or 4.92%.
Market analysis suggests that the persistent weakness in metallic chromium prices is mainly due to the overall oversupply and weak demand in the downstream ferrochrome market. The ferrochrome market showed clear weakness in July, with domestic output hitting a new high for the year, coupled with full production during the southwest wet season and sustained high arrivals of South African chrome ore at ports, leading to broad supply glut. July marks the traditional off-season, with steel mill production schedules declining month-on-month, and major steel mills cut their July ferrochrome long-term tender prices by RMB 100–200/50‑basis‑tonne.
II. Domestic Corporate Updates: Multiple companies launched metallic chromium procurement
Last week, several large domestic manufacturers issued procurement notices for metallic chromium, reflecting that rigid demand from downstream special alloys and superalloys remains intact.
China First Heavy Industries (CFHI): On July 13, CFHI initiated a new round of procurement for nitrided metallic chromium.
Shougang Group: On July 6, the procurement project for metallic chromium for July 2026 by Shougang Jitai'an announced its winning bidder as Hubei Jingye Technology Co., Ltd. Pangang Group: On July 13, Pangang Group Research Institute Co., Ltd. published a tender announcement for three items of metallic chromium (Tender No. PGGTYJHGZHD260709302855), with self-raised funds and an open bidding method.
Erzhong (Deyang) Heavy Equipment Co., Ltd.: On July 2, the company issued a tender notice (offline tender No. EZZB-2026-0458) for 33 tonnes of metallic chromium, with delivery scheduled by July 31, 2026.
III. International Market: AMG starts production and Temas files patent
AMG Critical Materials: On July 13, AMG officially announced the commissioning of its chromium metal manufacturing plant in Newcastle, Pennsylvania, making it the only large-scale chromium metal producer in the United States. The plant represents an investment of USD 15 million and has an annual capacity of 6,500 tonnes. Previously, U.S. chromium metal supply was 100% dependent on imports; the start‑up of AMG's plant marks a significant step in securing U.S. critical mineral supply chains. AMG's CEO stated at the commissioning ceremony that the future vision is to build a multi‑metal centre of comparable scale.
Temas Resources Corp.: On July 10, the company filed a new patent priority application titled "Chloride‑based process for Chromium extraction". The patent is based on the company's proprietary Regenerative Chloride Leach (RCL) metallurgical technology platform, aimed at extracting chromium from complex orebodies. Temas' President and CEO noted that this patent application is an important step in the company's transformation from a critical minerals developer to a global clean metallurgical technology company. Chromium is listed as a critical mineral in the United States, Canada, and other Western countries, and is widely used in aerospace, defence, energy infrastructure, and advanced manufacturing. According to Grand View Research, the global chromium market was valued at USD 23.9 billion in 2024 and is expected to reach approximately USD 34.5 billion by 2030.
Gulf Mining Materials Company (Oman): Its chrome ore processing plant expansion project came on stream in early July, aiming to enhance the added value of mineral resources and strengthen the contribution of the mining sector to the national economic diversification.
IV. Industry Conferences and Institutional Views
On July 9–10, the "FerroAlloyNet 2026 International Mining Conference & Ferroalloy Supply‑Demand Matchmaking Meeting" was held in Qingdao, Shandong. Several Chinese and foreign chrome ore and ferrochrome companies, including Mavu Commodities Pty Ltd and Polyplast Novomoskovsk Ltd, confirmed their attendance.
On July 5, CITIC Securities issued a research report indicating that, driven by sustained high growth in downstream demand, metallic chromium smelting has gradually become a major source of chromium salt demand. At the same time, benefiting from the restructuring of global trade chains, China's excess growth in metallic chromium demand has brought additional incremental demand for domestic chromium salts. According to industry research data, the global metallic chromium market was valued at approximately USD 828 million in 2025, and is projected to grow to USD 881 million in 2026, reaching USD 1.33 billion by 2032, with a compound annual growth rate (CAGR) of 7.1% from 2026 to 2032.
V. Market Outlook
In summary, the metallic chromium market remained under pressure last week, with spot prices declining for several consecutive weeks and trading sentiment subdued. The oversupply and weak demand situation in the downstream ferrochrome and stainless steel markets is unlikely to reverse in the short term; cost support exists but is limited. However, the concentrated procurement initiatives by major manufacturers such as CFHI, Shougang, Pangang, and Erzhong reflect that rigid demand from special alloy and superalloy sectors remains intact. On the international front, the commissioning of AMG's chromium metal plant in the U.S. signals a structural shift in global chromium metal supply patterns, while Temas' patent application for a novel chromium extraction technology provides new room for technological progress in the industry. In the near term, metallic chromium prices are expected to continue fluctuating weakly. Close attention should be paid to the recovery pace of steel mill production schedules and changes in international supply and demand dynamics.
