Commodity Market Report

Global bulk steel alloys investment horizon outlook – Q3 2024

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Over the past quarter, the majority of prices in the bulk steel alloy markets have moved down. Dramatically so for manganese ore, where the price spike initiated by the temporary closure of South32’s GEMCO mine has collapsed, despite the fact that GEMCO will remain closed until at least Q1 2025. In the chromium market, price changes have been much less dramatic, but consistently downward. Though still elevated, ore prices have nonetheless begun to move down, and ferrochrome prices have weakened further from already low levels. In the silicon markets, metal prices in China have plunged, despite consumption continuing to grow far more strongly than expected. Ferrosilicon prices gradually drifted down through Q3. Our Q3 2024 bulk steel alloys strategic planning outlook takes a longer view of each market, assessing what (if any) impact such developments will have beyond the short term. It also includes updated long-term forecasts for demand, supply and prices for each key market.

Table of contents

  • Chromium
  • Manganese
  • Ferrosilicon
  • Silicon metal

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    Global Bulk Steel Alloys Investment Horizon Outlook Q3 2024.pdf

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