Commodity Market Report
Global noble steel alloys short-term outlook May 2023
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Report summary
Prices across the noble alloys attained stability in May, following a decline in March and April. Molybdenum prices showed a slight upward movement in response to renewed buying activity in China. In comparison, niobium prices remained largely flat. Meanwhile, after several declines, vanadium prices appear to have reached a bottom. Since our last short-term outlook report, the fundamentals driving noble steel alloy markets have not changed substantially. The 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
- Molybdenum prices sees small gains in May
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Niobium
- Prices maintain stability despite weaker market
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Vanadium
- Prices attain stability after freefall
- 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
- Chinese rebar production down
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Molybdenum
- Weak production guidance results in 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:
