Commodity Market Report
Global bulk steel alloys short-term outlook July 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Since May, sufficient supply, lacklustre demand and falling production costs have continued to fuel the price decline in most bulk alloy markets. In the manganese and silicon markets, prices have fallen by a bit more than we had expected. To some degree, the high level of stocks built up last year still needs to be sufficiently drawn down. We retain our view that inventories returning to normal levels should give alloy prices scope to recover. Nevertheless, the chromium ore market has remained plagued by understocking. We expect the tightness in seaborne ore supply will provide ongoing upside to ore prices through the short-term outlook period. Please read our report to find out more about these trends, our forecast and the latest movements in the market.
Table of contents
- Chromium
- Manganese
-
Silicon
- Ferrosilicon
- Silicon metal
-
Chromium
- Chromium ore prices adjusted upwards as understocking persists
- Turkish premium and UG2 discount
- Oversupply persists as summer slowdown undermines ferrochrome demand
-
Manganese
- Ore prices fall but costs begin to rise again
- Manganese alloy prices decline further, but signs of Chinese market turning
- Significant drop in EMM prices
-
Silicon
- Ferrosilicon
- Silicon metal
- Crude steel trends
- Stainless steel trends
-
Chromium
- Demand down slightly on lower stainless steel output
-
Manganese
- Demand downgrade for 2023, as alloy markets destock
-
Silicon
- Ferrosilicon
- Silicon metal
-
Chromium
- Ore output remains constrained despite uptick in South African exports
- China continues to drive growth in global ferrochrome supply
-
Manganese
- Oversupply projection downscaled for 2023, but increased for 2024
- Alloy output drops further as market deficits widen
-
Silicon
- Ferrosilicon
- Silicon metal
Tables and charts
This report includes the following images and tables:
- Key chromium forecasts
- Key manganese forecasts
- 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
- Ferrosilicon monthly prices
- Global ferrosilicon price forecast
- Silicon metal monthly prices
- 18 more item(s)...
What's included
This report contains:
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