Year-by-year annual average price for chromium in USD/kg, sourced from U.S. Geological Survey, Mineral Commodity Summaries 2025. Chromium metal (99%+); defines stainless steel at 10.5%+ Cr content.
Chromium is the defining element of stainless steel, essential to modern infrastructure, medical devices, and transportation. South Africa holds over 70% of global chromite reserves. Demand is driven primarily by Stainless steel production (10-30% chromium content), Chrome plating for automotive and industrial parts, Superalloys for high-temperature applications. Supply is concentrated in South Africa, Kazakhstan, India, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Chromium prices.
Chromium prices held roughly steady at $9.50 per USD/kg (2023 average: $9.50) in 2024.
Chromium prices fell -5.0% from 2022's $10 per USD/kg to $9.50 per USD/kg in 2023.
Chromium prices rose +5.3% from 2021's $9.50 per USD/kg to $10 per USD/kg in 2022.
Chromium prices rose +5.6% from 2020's $9.00 per USD/kg to $9.50 per USD/kg in 2021.
Chromium prices fell -5.3% from 2019's $9.50 per USD/kg to $9.00 per USD/kg in 2020.
Movement summaries above are calculated directly from the annual averages shown in the table. Critical Minerals HQ does not attribute price moves to specific events except where backed by sourced reporting.
| Year | Average Price (USD/kg) | YoY Change |
|---|---|---|
| 2024 | $9.50 | +0.0% |
| 2023 | $9.50 | -5.0% |
| 2022 | $10 | +5.3% |
| 2021 | $9.50 | +5.6% |
| 2020 | $9.00 | -5.3% |
| 2019 | $9.50 | -5.0% |
| 2018 | $10 | +11.1% |
| 2017 | $9.00 | +5.9% |
| 2016 | $8.50 | -5.6% |
| 2015 | $9.00 | -5.3% |
| 2014 | $9.50 | +5.6% |
| 2013 | $9.00 | -5.3% |
| 2012 | $9.50 | -5.0% |
| 2011 | $10 | +5.3% |
| 2010 | $9.50 | +5.6% |
| 2009 | $9.00 | -35.7% |
| 2008 | $14 | +16.7% |
| 2007 | $12 | +33.3% |
| 2006 | $9.00 | +12.5% |
| 2005 | $8.00 | +6.7% |
| 2004 | $7.50 | +7.1% |
| 2003 | $7.00 | +0.0% |
| 2002 | $7.00 | +0.0% |
| 2001 | $7.00 | +0.0% |
| 2000 | $7.00 | — |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2025. Chromium metal (99%+); defines stainless steel at 10.5%+ Cr content
The most recent annual average we track is $9.50 per USD/kg for 2024. Live spot prices are shown on the Chromium live-price page.
up +0.0% — from $9.50 per USD/kg in 2023 to $9.50 per USD/kg in 2024.
up +0.0% — from $9.50 per USD/kg in 2019 to $9.50 per USD/kg in 2024.
up +0.0% — from $9.50 per USD/kg in 2014 to $9.50 per USD/kg in 2024.
Chromium is the defining element of stainless steel, essential to modern infrastructure, medical devices, and transportation. South Africa holds over 70% of global chromite reserves. Demand is driven primarily by Stainless steel production (10-30% chromium content), Chrome plating for automotive and industrial parts, Superalloys for high-temperature applications. Supply is concentrated in South Africa, Kazakhstan, India, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Chromium prices.
The highest annual average chromium price in our recorded series was $14 per USD/kg in 2008.
U.S. Geological Survey, Mineral Commodity Summaries 2025. Chromium metal (99%+); defines stainless steel at 10.5%+ Cr content