Commodity Market Report

Global noble steel alloys short-term outlook April 2024

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The noble alloys ticked up in price at the start of Q2 as demand picked up globally. Vanadium was uplifted by the non-steel sectors, especially aviation and defence. Niobium prices were driven by demand for superalloys. Molybdenum markets risk entering into undersupply unless output from the majors improves this year after poor production from Chile in Q1. All the noble alloys stand to gain from increasing intensities in steel over the next two years, offsetting the effects of rangebound steel production volumes. Please read our report to learn more about these trends, our forecast, and the latest movements in the market.

Table of contents

  • Molybdenum
  • Vanadium
  • Niobium

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    Global Noble Steel Alloys Short Term Outlook April 2024.pdf

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