Global noble steel alloys short-term outlook August 2023

There was a divergence in noble alloys price trends in August. Prices for molybdenum rose in response to stronger buying interest and tight market conditions. In comparison, vanadium prices remained largely affected by the low demand from steel market. Meanwhile, niobium prices found support from the special steel sector in August. Despite the end of the seasonal summer lull approaching, we expect ongoing softness in downstream end-use sectors for steel to undermine demand growth for noble steel alloys in the coming months. Please read our report to find out more about these trends, our forecast and the latest movements in the market.