Commodity Market Report

Bulk steel alloys short-term outlook August 2022

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05 September 2022

Bulk steel alloys short-term outlook August 2022

Report summary

The global economy is facing intensifying challenges from macroeconomic uncertainties, rising energy costs and high inflation. In Europe, soaring energy prices and growing inflationary pressures have been a major downside to demand for bulk alloys. In China, the country’s property sector entered a recession, which has depressed domestic steel demand. To some extent, these factors have all weighed on global bulk alloy demand and prices. Even though costs have remain elevated, we maintain our view that the current weak sentiment in end-use sectors will, in general, keep bulk alloy prices depressed in the remainder of 2022.

Table of contents

  • Chromium
  • Manganese
  • Ferrosilicon and silicon metal
    • Ore prices continue to slide as market shifts to surplus
    • UG2 discount and Turkish premium
    • Demand recovery to provide some support to falling ferrochrome prices beyond Q3
    • High-grade ore price drops, but no more downside expected
    • Manganese alloy prices reach floor level
    • Manganese metal producer alliance agrees new measures
    • Ferrosilicon prices dropped further in August
    • Chinese silicon metal prices rebound
  • Crude steel trends
  • Stainless steel trends
    • Background
    • Short-term demand outlook adjusted downwards slightly
  • Manganese
    • Ferrosilicon
    • Silicon metal
    • Little change in chromium ore outlook with 10% y-o-y growth expected in 2022
    • Ferrochrome outlook adjusted downwards in near-term
    • Near-term manganese ore supply outlook adjusted downwards marginally
    • Modest upward adjustment to manganese alloy supply outlook
    • Ferrosilicon
    • Silicon metal

Tables and charts

This report includes 30 images and tables including:

  • Key chromium forecasts
  • Key manganese forecasts
  • Key silicon forecasts
  • Crude steel production (Mt)
  • Crude stainless steel production (Mt)
  • Manganese alloy and metal consumption outlook
  • Quarterly chromium ore prices and forecasts
  • Quarterly high-carbon ferrochrome prices and forecasts
  • Quarterly manganese ore price forecast
  • Quarterly silicomanganese price forecast
  • Quarterly high-carbon ferromanganese price forecast
  • Quarterly MC FeMn and manganese metal price forecast
  • Ferrosilicon monthly prices
  • Global ferrosilicon price forecast
  • Silicon metal monthly prices
  • Global silicon metal price forecast
  • Quarterly chromium consumption by first use
  • Quarterly chromium consumption in stainless steel by region
  • Quarterly ferrosilicon consumption by first use
  • Quarterly ferrosilicon consumption by region
  • Quarterly silicon metal consumption by first use
  • Quarterly silicon metal consumption by region
  • Quarterly chromium ore supply by region
  • Quarterly ferrochrome supply by region
  • Quarterly manganese ore supply by region
  • Quarterly silicomanganese supply by region
  • Quarterly high-carbon ferromanganese supply by region
  • Quarterly medium carbon ferromanganese supply by region
  • Global ferrosilicon production
  • Global silicon metal production

What's included

This report contains:

  • Document

    Bulk steel alloys short-term outlook August 2022

    PDF 1.14 MB