Abrasives: Cycles
The 2022 spike that nearly doubled silicon carbide prices
What this tab covers Price history and what drives booms and busts, including this commodity's super-cycles, the drivers behind them and the metrics to track. It charts monthly prices (World Bank) with a switch to inflation-adjusted annual prices; where there is no World Bank series it uses USGS US prices.Prices are import unit values, not market quotes. Crude fused alumina rose from $674 per tonne in 2021 to $797 in 2022 fell to $635 in 2024, then rose to about $699 in 2025. Crude silicon carbide nearly doubled from $587 to $1,080 in 2022 before settling near $829. The 2022 spike coincided with the energy price shock, and furnace grits are electricity-intensive. Demand follows manufacturing: aerospace, cars, furniture, housing and steel. US apparent consumption of silicon carbide fell from 143,000 t in 2024 to 120,000 t in 2025.
US price, Average unit value of US imports, crude fused aluminium oxide
2021 674 2022 797 2023 655 2024 635 2025 699 dollars per metric ton. USGS MCS 2026; 2025 is an estimate.Super-cycles in abrasives
Manufactured abrasives have no exchange price and no long published price series. Their prices follow electricity, raw material and freight costs, and China's export pricing, since China holds most capacity. Demand follows factory output in cars, aircraft, steel and furniture. The 2021-2025 US import unit values show a cost spike in 2022, an easing in 2023-2024 and a tariff-driven reshuffle of trade in 2025.
- 2021-2022
US imports surged as manufacturing recovered from the pandemic, and import prices rose sharply.
US import unit values: crude silicon carbide $587/t to $1,080/t (+84%); metallic abrasives $1,510/t to $2,130/t (+41%); crude fused alumina $674/t to $797/t (+18%) (USGS).
- 2023-2024
Costs eased and US buyers destocked; fused alumina imports dropped from 225,000 t (2022) to 120,000 t (2023).
Crude silicon carbide $905/t (2023) and $832/t (2024); crude fused alumina $655/t and $635/t (USGS).
- 2025
US Section 301 duties on Chinese abrasives and weak North American manufacturing cut imports and US output; crude fused alumina imports fell 33% and crude silicon carbide 20%.
Crude fused alumina $699/t, ground $1,500/t, crude silicon carbide $829/t, metallic $2,000/t (2025e, USGS); US silicon carbide output fell from 40,000 t to 30,000 t.
What drives the cycle
- Manufacturing activity. Aerospace, automotive, furniture, housing and steel drive grinding and finishing demand (USGS).
- Electricity and raw material costs. Arc and Acheson furnaces are power-intensive; bauxite and petroleum coke prices feed through.
- Chinese capacity and export pricing. China has about 62% of fused alumina and 45% of silicon carbide capacity, and its lower costs pressure North American makers.
- Trade policy. US Section 301 duties of 7.5-25% on Chinese grains and steel shot reroute trade.
- Electric vehicle power electronics. A small but growing high-purity silicon carbide market.
Metrics to track
| Metric | Why it matters | Where to track it |
|---|---|---|
| US imports by HTS 2818.10, 2849.20 and 7205.10 | Volumes and unit values by source | US Census Bureau trade data; USGS Mineral Commodity Summaries |
| Manufacturing PMIs | Lead indicator for abrasive use | S&P Global and ISM monthly PMIs; HSBC India Manufacturing PMI |
| CUMI electrominerals and abrasives segment revenue | Indian and Russian grain market read-through | Carborundum Universal quarterly results |
| China export prices for brown fused alumina and silicon carbide | Global price setter | China customs data; trade press such as IMFORMED |
| Industrial electricity prices in China and Norway | Main cost driver | National statistics agencies; IEA energy prices |