Commodity Market Report
Global noble steel alloys short-term outlook July 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Noble alloys prices continued to remain stable in July. Molybdenum Chinese prices showed steady increase in response to renewed buying activity in China. Meanwhile, prices of Niobium and Vanadium showed positive momentum in Europe on spot supply shortage. In the near term, we expect 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
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Molybdenum
- Renewed buying interest supports Chinese prices
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Niobium
- Niobium prices remain flat through July
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Vanadium
- Lower demand from steel curtails ferrovanadium prices in China.
- Crude steel trends
- Stainless steel trends
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Molybdenum
- Minor cut to demand forecast
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Niobium
- Niobium demand to grow 8% in 2023
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Vanadium
- Vanadium demand to outpace supply
- VRB in News
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Molybdenum
- Downward revision to supply growth forecasts
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
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Molybdenum key forecastsNiobium key forecastsVanadium key forecasts
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Crude steel production (Mt)Crude stainless steel production (Mt)Europe Molybdenum oxide and ferromolybdenum pricesMore attractive Chinese prices drawing in materialFerroniobium pricesVanadium pentoxide pricesFerrovanadium pricesFinished molybdenum consumption (kt Mo)2021 vs 2022 change in ferroniobium imports
- 11 more item(s)...
What's included
This report contains:
