Commodity Market Report

Bulk steel alloys short-term outlook October 2022

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The global economy continues to face significant headwinds ranging from geopolitical uncertainty, to ongoing elevated energy costs and high inflation. In line with these challenges, the sentiment in downstream end-use sectors across bulk alloys has remained generally weak. After substantial price drops in Q3 2022, in the face of weakening demand, alloy producers across the bulk alloy metals are facing growing margin pressure. Despite some recent production curtailments, these markets will remain generally oversupplied in the near-term. However, in the short-term outlook, cost support will begin to lend upside to prices in the markets most affected by curtailments.

Table of contents

  • Chromium
  • Manganese
    • Ferrosilicon
    • Silicon metal
    • Ore prices turn upwards after reaching cost floor, amid supply interruption
    • UG2 discount and Turkish premium
    • Ferrochrome price upside expected beyond Q4 2022, after substantial drops
    • High grade ore prices expected to rebound as it reaches floor level
    • Manganese alloy oversupply prompts production curbs
    • Manganese metal producer alliance agrees new measures
    • Ferrosilicon price rises in China
    • An uptick in Chinese silicon metal prices continued in October
  • Crude steel trends
  • Stainless steel trends
    • Background
    • Another downward adjustment to our short-term chromium demand outlook
  • Manganese
    • Ferrosilicon
    • Silicon metal
    • Chromium ore short term supply outlook adjusted downwards in 2023 and 2024
    • Ferrochrome supply outlook adjusted downwards on weaker demand
  • 2 more item(s)...

Tables and charts

This report includes the following images and tables:

  • Key chromium forecasts
  • Key manganese forecasts
  • Crude steel production (Mt)
  • Crude stainless steel production (Mt)
  • Manganese alloy and metal consumption outlook
  • Key silicon forecasts
  • 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
  • 18 more item(s)...

What's included

This report contains:

  • Document

    Bulk steel alloys short-term outlook October 2022

    PDF 1.15 MB