Global bulk steel alloys short-term outlook January 2023 Report

Commodity Market Report 13 February 2023

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Report summary

Despite a challenging and volatile year, the global economy showed some early signs of improvement in the final months of 2022. China’s abrupt change in stance on the zero-Covid policy, Europe’s better-than-expected economic indicators and easing inflation in the rest of the world have positively influenced market sentiment across bulk alloys. As these markets rebalance, we forecast prices to realign with their cost fundamentals. While silicon prices still have some way to fall, a rebound is expected in those market where prices overshot on the downside.

Chromium
Manganese
Silicon
- Ferrosilicon
- Silicon metal
Chromium
- Ore prices overshoot on the upside as sentiment brightens
- Turkish premium and UG2 discount
- Resurgent demand boosts China ferrochrome prices, but little upside expected in Europe
Manganese
- Brighter sentiment and cost support to buoy ore prices
- Manganese alloy prices to benefit from cost support and improving demand
- Manganese metal output recovering, but still comparatively low
Silicon
- Ferrosilicon
- Silicon metal
Crude steel trends
Stainless steel trends
Chromium
- Short-term chromium demand outlook largely unchanged
Manganese
- Manganese demand guidance for 2022 boosted
Silicon
- Ferrosilicon
- Silicon metal
Chromium
- Short-term supply outlook adjusted down on bleaker South Africa outlook
- Slight upward adjustment in short-term ferrochrome supply outlook
2 more item(s)...