毛莎莎-铬锰钼等金属炉料市场现状及走势分析（中英文）.pdf

1、 SMM.All rights reserved.全球铬资源格局变革下的中国市场The Chinese Market Amid Global Chromium Resource Pattern TransformationSMM铬分析师毛莎莎SMM Senior Chromium Analyst Sia Mao2025.10.21Page 2 SMM.All rights reserved.2025年高碳铬铁价格波动明显，受供应偏紧影响价格整体震荡上行The price of high-carbon ferrochrome fluctuated significantly in 2025,an

2、d the overall price oscillated upward due to tight supply.650070007500800085009000高碳铬铁价格走势Price Trend of High-Carbon Ferrochrome全国均价National average price钢招价格Procurement Tender Price(15.00)(10.00)(5.00)0.005.0010.00020406080100高碳铬铁产量走势High-Carbon Ferrochrome Production Trend内蒙Inner Mongolia其他地区Other

3、同比（右轴）YoY(RHS)-100-50050020402025-012025-022025-032025-042025-052025-062025-072025-08高碳铬铁进口走势Import Trend of High-Carbon Ferrochrome南非South Africa哈萨克斯坦Kazakhstan津巴布韦Zimbabwe其他Other同比（右轴）YoY(RHS)Page 3 SMM.All rights reserved.受海外减产影响，短期内铬铁供应出现缺口，但未来多有新增投产，市场整体仍呈现过剩态势A supply gap of ferrochrome has em

4、erged in the short term due to overseas production cuts;however,with multiple new production facilities expected to start operations in the future,the market as a whole will still show a surplus trend.供应Supply需求Demand供需平衡Balance中国铬铁供需平衡Supply and Demand Balance of Ferrochrome in China单位：万金吨/ten thou

5、sand ten thousand tonstonsin in metal contentmetal content020040060080020202021202220232024202520262027202820292030其他Other进口Import国产Domestic0200400600800出口Export其他Other不锈钢Stainless Steel27.3 27.3-19.1 19.1-0.4 0.4 5.0 79.6 5.0 79.6 -16.0 16.0-3.0 3.0 6.3 8.2 6.3 8.2 2.1 4.3 2.1 4.3 05001,00020202021

6、202220232024202520262027202820292030其他Other欧洲Europe津巴布韦Zimbabwe印度India哈萨克斯坦Kazakhstan南非South Africa中国China供应需求供需平衡全球铬铁供需平衡Global Ferrochrome Supply-Demand Balance单位：万金吨01,000其他Other印尼Indonesia中国China-33.46 33.46 -43.43 4.37 43.43 4.37 -20.27 88.18 20.27 88.18 -45.93 45.93 -24.45 2.64 23.29 24.45 2.6