Commodity Market Report
Global noble steel alloys short-term outlook January 2023
Report summary
Despite a challenging and volatile year, the global economy showed some early signs of improvement in the final months of 2022. China’s abrupt change in its stance on the zero-Covid policy, Europe’s better-than-expected economic indicators and easing inflation in the rest of the world have all positively influenced the market sentiment of noble alloys. As we entered the new year, molybdenum, vanadium and niobium prices all began their rise in January. Molybdenum prices even surged to historically high levels by the end of the month. Nevertheless, we expect noble alloy prices will gradually ease from their current highs by 2024. 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
-
Molybdenum
- Molybdenum prices surge to historically high levels
-
Niobium
- Niobium prices have a strong start
-
Vanadium
- Prices come rocketing back as producers hold back supplies
- Crude steel trends
- Stainless steel trends
-
Molybdenum
- Demand continues to grow
-
Niobium
- Niobium market rebounds in 2023
-
Vanadium
- China rebar continues to disappoint
- VRBs to have a break-out year
-
Molybdenum
- Mine supply set to recover
-
Niobium
- Supply aligns to weak demand
-
Vanadium
- A slight deficit pivots to a slight oversupply
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:
Other reports you may be interested in
Commodity Market Report
Global noble steel alloys short-term outlook January 2024
Wood Mackenzie's latest short-term view on molybdenum, niobium and vanadium markets.
$5,000
Commodity Market Report
Global noble steel alloys short-term outlook February 2024
Wood Mackenzie's latest short-term view on molybdenum, niobium and vanadium markets.
$5,000
Commodity Market Report
Global noble steel alloys strategic planning outlook - Q1 2024
The latest noble steel alloys strategic planning outlook forecasts global supply, demand and prices for molybdenum, vanadium and niobium.
$10,000
