HS Code:
The category 'Having a chromium content equivalent to more than 40 percent but less than 46 percent chromic oxide (Cr₂O₃)' typically falls under HS Code 2610.00, which covers chromium ores and concentrates. This specific subcategory refers to chromium-bearing materials with a defined range of chromic oxide content, used primarily in the production of ferrochrome, stainless steel, and other alloys. Chromium in this concentration is critical for industries requiring high corrosion resistance and strength. Global trade in this category is influenced by mining output, industrial demand, and geopolitical factors affecting key producing regions.
Total Trade Volume
Approximately 15 million metric tons
Data from 2022
Source
International Trade Centre (ITC) Trade Map, UN Comtrade Database
6.5 million metric tons
43.3% of total trade of total trade
Increasing
3.2 million metric tons
21.3% of total trade of total trade
Stable
1.8 million metric tons
12.0% of total trade of total trade
Increasing
1.5 million metric tons
10.0% of total trade of total trade
Stable
0.8 million metric tons
5.3% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements or for WTO members with specific exemptions)
Rising demand for stainless steel
Increased demand for chromium ores with specific Cr₂O₃ content for ferrochrome production, particularly in Asia-Pacific markets like China.
2021-2022
Shift towards sustainable mining practices
Higher production costs due to stricter environmental regulations in major exporters like South Africa, potentially reducing supply.
2020-2022
Geopolitical instability in key regions
Disruptions in supply chains due to political tensions or sanctions affecting countries like Kazakhstan, leading to price volatility.
2022
South Africa introduced new export taxes on chromium ores to prioritize domestic ferrochrome production and address energy constraints in mining operations.
October 2022
Potential reduction in global supply, driving up prices for importing countries like China and India.
China, the largest consumer of chromium ores, raised import quotas to meet growing stainless steel production targets, focusing on high-quality ores.
March 2023
Boosted demand for ores with 40-46% Cr₂O₃ content, benefiting exporters like South Africa and Kazakhstan.
Political unrest and labor strikes in Kazakhstan led to temporary halts in chromium mining operations, affecting global supply chains.
January 2022
Short-term supply shortages and increased reliance on alternative suppliers like Turkey and India.