Global bulk steel alloys short-term outlook May 2024

The past month has seen continued price hikes for both chromium ore and manganese ore. Those for manganese ore are filtering through to alloy prices, but ferrochrome prices are still stubbornly resisting upward movement, leaving them stuck at increasingly unprofitable levels. Uncertainty has intensified, in terms of how long the anomalous price situation will last in both the chromium and manganese markets. The abolition of the long-established European price benchmarking system for charge chrome has added to this. Pricing in the silicon metal and ferrosilicon markets has been stable in comparison. Nevertheless, Chinese polysilicon output finally slowing down in response to enormous oversupply will likely have significant implications. Read our report to learn more about these developments, our forecast, and the latest movements in the market.