Chromium is a raw material that has not been rising since 2017. Despite that some metal prices shoot through the roof; we do not see this happen with chromium. The experts expect that this will not happen in the near future. Chromium is a material that is easy to refine, but globally is not used a lot. A lot of raw materials have scarcity, but chromium is not impacted by this. Next to this, the raw material has a high melting point, which makes it super strong. Materials that are made of chromium have a smooth finish, because of which they have to be brushed more often. Scratches can be seen pretty fast on this material, which is why it is not popular. If you compare it to, for example, stainless steel, chromium does look a lot better.
What do we expect of the chromium price in 2022?
The chromium price will not be rising a lot during 2022. There is namely a large supply which is why the price of it has been pretty much stable since 2017. Of course, it rises a little bit every year due to inflation, but it has very little to do with the actual price of the raw material. We see more and more interior materials and car materials that are being made with chromium. Up until this day, it doesn’t gain a lot of popularity, because it is very vulnerable for scratches and stains. But this can of course change in the future. As soon as we get signals of a rising price, we will let you know.
Despite the fact that the price of chromium will not rise immensely, we do see more things being made from this raw material. Nowadays, a lot of lamps, faucets and car materials are made from this raw material. This is, probably, because other raw materials are rising in price and become more expensive. This way, manufacturers try to find an affordable alternative for their consumers.