Commodity Market Report

Global noble steel alloys short-term outlook April 2023

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Prices across the noble alloys weakened in April in response to slow buying interest from consumers and lower tender prices from steel producers. Niobium prices finished the month only slightly lower but more dramatic declines were seen in Molybdenum and Vanadium. The noble alloys markets will continue to face headwinds from uncertain demand, the banking crisis, interest rate hikes and the risk of recession through the rest of the year. Please read our report to find out more about these trends, our forecast and the latest movements in the market.

Table of contents

  • Molybdenum
  • Niobium
  • Vanadium
    • Chinese buying activity drag prices lower
    • Niobium prices finished the month only slightly lower
    • Prices collapse as optimism wanes
  • Crude steel trends
  • Stainless steel trends
    • Demand set to accelerate
    • Niobium demand recovers despite slowing momentum
    • China rebar off to a slow start
    • VRBs to have a break-out year
    • Mine supply set to recover
    • Ups and downs in niobium supply
    • First quarter production hits targets

Tables and charts

This report includes 23 images and tables including:

  • Molybdenum key forecasts
  • Niobium key forecasts
  • Vanadium key forecasts
  • Crude steel production (Mt)
  • Crude stainless steel production (Mt)
  • Europe Molybdenum oxide and ferromolybdenum prices
  • More attractive Chinese prices drawing in material
  • Ferroniobium prices
  • Vanadium pentoxide prices
  • Ferrovanadium prices
  • Finished molybdenum consumption (kt Mo)
  • 2201 vs 2022 change in ferroniobium imports
  • Niobium demand by product
  • China rebar production (kt)
  • Vanadium demand
  • Annual VRB installations and vanadium consumption
  • Molybdenum mine production by country (kt Mo)
  • Niobium production by producer
  • Brazil monthly ferroniobium exports
  • China imports of ferroniobium from Canada
  • Niobium production by country
  • Vanadium feedstock supply (kt V)
  • Monthly Chinese ferrovanadium trade

What's included

This report contains:

  • Document

    Global noble steel alloys short-term outlook April 2023

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