Chromium: Trading
No exchange, just contracts and a ferrochrome benchmark
What this tab covers How and where it is bought and sold: who buys and sells, exchanges and benchmarks, contract types, the big trading houses and how prices are discovered.Chromium has no liquid exchange contract. Chromite and ferrochromium trade on bilateral and term contracts referenced to assessments by Argus, Fastmarkets and others. In Europe, a quarterly ferrochrome benchmark was long agreed between major producers and stainless mills. Large miners and traders dominate: Glencore was among the four largest chrome producers in 2013 (Tilton & Guzmán). Chromium chemicals and metal are niche markets with their own contract prices.
Where it is bought (buyers)
- Chinese ferrochrome smelters buy South African ore (China took 85% of world ore imports in 2024, UN Comtrade)
- Stainless mills in China, Indonesia, Japan, Korea, Europe and the US buy ferrochrome on monthly or quarterly contracts
- Indian ferrochrome makers buy ore at OMC e-auctions
Where it is sold (sellers)
- South African miners (Glencore-Merafe, Samancor) sell ore and ferrochrome
- Kazakhstan exported 24% of ferrochrome by value in 2024
- Indian producers (IMFA, Tata Steel) exported 8.2% of world ferrochrome in 2024 (UN Comtrade)
- Turkey and Zimbabwe sell ore and alloy
Exchanges and benchmarks
| Venue | Contract | Notes |
|---|---|---|
| No exchange-traded futures | Ferrochrome and chromite trade bilaterally | Prices come from tenders, benchmarks and price reporting agencies |
| OMC e-auction (India) | Chrome ore lots by grade | Average 64,750 t a month auctioned in FY2025 (BigMint) |
Contract types
- Quarterly European benchmark contracts for charge chrome
- Monthly tender prices set by large Chinese stainless mills such as Tsingshan
- Spot ore cargoes priced on Cr2O3 grade, delivered China
- Long-term offtakes between South African miners and Chinese smelters
Top trading houses
- Glencore (markets its own and the Merafe venture output)
- Producer sales desks of Samancor, ERG and IMFA sell much ferrochrome directly to mills
How prices are discovered
- Argus Non-Ferrous Markets (source of USGS prices)
- Fastmarkets ferrochrome and chrome ore assessments
- SMM and Mysteel for Chinese domestic prices
- BigMint for Indian ore and ferrochrome prices