Global bulk steel alloys short-term outlook October 2024

Over the past two months, most prices in the bulk steel alloy markets have continued to decrease, with manganese ore experiencing the steepest drop. There have also been marked price reductions for both chromium ore and ferrochrome. In the silicon alloys, falling prices have largely been confined to western markets. Further reductions in demand guidance are another consistent theme across the bulk alloy markets at the moment. Much of this stems from the softening of our short-term crude steel production outlook. Our forecast for stainless steel output has also been downscaled slightly. However, demand developments in non-steel applications have been more mixed. Read our report to learn more about these developments, our forecast, and the latest movements in the market.