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Commodity Market Report

Global noble steel alloys investment horizon outlook – Q3 2022

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05 October 2022

Global noble steel alloys investment horizon outlook – Q3 2022

Report summary

Molybdenum mine supply is set to climb next year as new projects are commissioned, ending two successive years of decline. As a result, the market will gradually return to balance. Vanadium demand has been strongly impacted by Chinese construction sector weakness. Although steel will remain the main consumer of vanadium over the forecast period, the greatest upside for demand growth comes from the growing use of vanadium in energy storage systems. Niobium prices have come under pressure from China's weak construction sector and Europe's struggling economy. Like vanadium, the greatest upside to growth could come from non-steel applications.

Table of contents

  • Molybdenum
  • Vanadium
  • Niobium

Tables and charts

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What's included

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  • Document

    Noble Steel Alloys Investment Horizon Outlook Q3 2022.pdf

    PDF 2.33 MB