Bulk steel alloys short-term outlook November 2022 Report

Commodity Market Report 07 December 2022

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Report summary

Despite ongoing challenges in the global macroeconomic climate, there have been some signs of respite in the overhanging gloom. In western markets, energy prices have softened from Q3 highs and in China there are indications that the government intends to ease partially on its "zero-Covid" approach to managing the pandemic. Though these factors will contribute to improving sentiment in downstream end-use sectors, we expect this to provide little to no upside in prices across bulk alloy markets in the immediate term. Only modest upside is expected in those markets where recent production curtailments have shaved the over-supply.

Chromium
Manganese
Silicon
- Ferrosilicon
- Silicon metal
Chromium
- Uncertainty again weighs on ore prices
- Turkish premium and UG2 discount
- No further downside in ferrochrome prices following recent declines
Manganese
- Ore price upside expected as forecast remains largely unchanged
- Manganese alloy price set to rebound as markets gradually rebalance from oversupply
- Manganese metal output remains exceptionally low
Silicon
- Ferrosilicon
- Silicon metal
Crude steel trends
Stainless steel trends
Chromium
- Slight upward adjustment in 2023 and 2024 on account of China stainless steel
Manganese
Silicon
- Ferrosilicon
- Silicon metal
Chromium
- No major changes in short-term chromium ore supply outlook
- No major changes in short-term high-carbon ferrochrome supply outlook
2 more item(s)...