Commodity Market Report

Global noble steel alloys short-term outlook July 2023

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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
    • Renewed buying interest supports Chinese prices
    • Niobium prices remain flat through July
    • Lower demand from steel curtails ferrovanadium prices in China.
  • Crude steel trends
  • Stainless steel trends
    • Minor cut to demand forecast
    • Niobium demand to grow 8% in 2023
    • Vanadium demand to outpace supply
    • VRB in News
    • Downward revision to supply growth forecasts
    • Niobium exports from Brazil increased by 4% in Jan-Jun 2023
    • Vanadium supply adjusted downwards on weak production guidance.

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)
  • 2021 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 July 2023

    PDF 1.13 MB