Commodity Market Report
Global noble steel alloys short-term outlook May 2023
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
-
Molybdenum
- Molybdenum prices sees small gains in May
-
Niobium
- Prices maintain stability despite weaker market
-
Vanadium
- Prices attain stability after freefall
- Crude steel trends
- Stainless steel trends
-
Molybdenum
- Minor cut to demand forecast
-
Niobium
- Niobium demand to grow 8% in 2023
-
Vanadium
- Chinese rebar production down
-
Molybdenum
- Weak production guidance results in downward revision to supply growth forecasts
-
Niobium
- Major producer cuts Niobium output by 12% in 2022
-
Vanadium
- Vanadium supply to be down marginally
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:
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