Consumption in these markets has been either steady or slowing down, while production has increased.Ĭhina is leading chromium-consuming country, importing chromite to support its ferrochrome and downstream stainless steel industries, which accounted for 64% and 57% of global output, respectively, in 2019. Global chromite production has almost doubled in the past decade, largely driven by capacity expansions in South Africa and Zimbabwe, as well as mines (re)opening in places such as North America, in response to price spikes in 2016/17 and rising demand for ferro-chrome and stainless steel.ĭemand in non-metallurgical chromite markets has been weak to flat for much of the last decade, with requirements largely covered by long-term contracts. Remaining producing countries mined a combined total of 4.1 million tonnes. ![]() The second largest producers in 2021 were Turkey and Kazakhstan, at 7 million tonnes each, followed by India at 3 million tonnes, and Finland at 2.3 million tonnes. Most of South Africa’s chromite mines are located in the northeast of the country, in Mpumalanga Province and Northwest Province, tapping reserves that form part of the Bushveld Igneous Complex. South Africa is the world’s leading chromite producer, mining 18 million tonnes in 2021, according to the USGS. However, in light of ongoing logistical challenges in South Africa, alongside Russia’s invasion of Ukraine, which led to rising global oil prices, chromite prices have since begun to catch up. It is also used in engineering and alloy steels (20%) and other steels (5%).Ĭhromite is also used directly in industrial foundry sands and refractory applications, and is converted into sodium dichromate for refinement into other chemicals and chromium metal.Įarly in 2022, sources in the foundry and chemical grade chromite markets said prices should have been on the way up, based on the spike in both demand and prices seen in the metallurgical market, but were slow to respond. Most chromite is consumed in the production of ferro-chrome (of which 12.7 million tonnes was manufactured globally in 2020, according to the USGS).įerro-chrome is used to make steel alloys, and mainly stainless steel (75%), of which 56.3 million tonnes was produced in 2021, according to the International Stainless Steel Forum. Global chromite production was estimated to be 41 million tonnes in 2021, according to the US Geological Survey (USGS), while global reserves of chromite are thought to exceed 12 billion tonnes. Refractory grade (high aluminium chromite, 46% Cr2O3).Foundry grade (low silica chromite, 45% Cr2O3).Chemical grade (high iron chromite, 46% Cr2O3).Metallurgical grade (high chromium chromite, minimum 40% Cr2O3).Most deposits contain a range of chromite grades, including: The majority of the world’s identified economic chromite reserves are located in southern Africa (South Africa and Zimbabwe), Turkey, Kazakhstan, Oman, India and the Philippines. ![]() High-purity chromite deposits are rare, due to the natural replacement of chromium and ferrous iron by other elements. In its purest form, chromite comprises chromium (Cr2O3) at 68% and iron oxide (FeO) at 32%. Chromite, or iron chromium oxide (FeCr2O4), is the mineral source of chromium.
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