Global bulk steel alloys short-term outlook April 2024

The past two months have seen numerous key developments in bulk alloy markets, impacting our short-term outlook to varying degrees. The announcement that South32’s GEMCO manganese ore mine will likely remain out of production until early 2025 has spiked prices for both manganese ore and alloys. Meanwhile, a major anti-dumping case in the US, the nationalisation of a major Russian supplier, and continued rampant oversupply in the Chinese solar supply chain are affecting the ferrosilicon and silicon metal markets significantly. In the chromium market, ore producers continue to enjoy very high prices whilst ferrochrome prices remain unprofitably low in comparison. For how long can that situation be sustained? Read our report to learn more about these developments, our forecast, and the latest movements in the market.