Commodity Market Report
Global noble steel alloys short-term outlook - October 2024
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Report summary
Noble steel alloy prices were largely stable in October. European molybdenum oxide prices stayed flat, while vanadium prices show a mixed path with potential sanctions in play, and ferroniobium prices marginally fell due to sluggish demand. We expect the status quo to continue in the noble alloys markets over Q4 2024. Limited supply growth and reduced output keep the alloy markets balanced, yet upward price risks remain for molybdenum and vanadium. Looking into 2025, a gradual economic recovery will lift demand, yet supply stability and slower-than-expected steel growth may temper price risks. Please read our report to learn more about these trends, our forecast, and the latest movements in the market.
Table of contents
- Molybdenum
- Vanadium
- Niobium
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