Commodity Market Report

Global noble steel alloys strategic planning outlook - Q1 2024

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Noble alloy prices have stabilised since the spikes seen in 2023. The effects of optimism surrounding China’s reopening and price uplift from supply restrictions have since waned. In its place, macroeconomic uncertainty has cast a shadow over key steel markets in the near term. Despite this, the long-term story for molybdenum, niobium and vanadium demand is one of growth, driven by traditional and emerging use cases.

Table of contents

  • Supply: differing trajectories across noble alloys
  • Molybdenum
    • Risks to the base case
    • Background
    • Latest outlook
    • Base case price forecast
    • Key risks to the base case
    • Background
    • Latest outlook
    • Base case price forecast
  • Molybdenum
  • Niobium
    • Vanadium feedstock
    • Ferrovanadium and vanadium nitride
  • Carbon steel production trends
  • Stainless steel production trends
    • Use of molybdenum in stainless steel
    • Use of molybdenum in other applications
    • Ferroniobium demand
  • 1 more item(s)...

Tables and charts

This report includes the following images and tables:

  • Molybdenum demand and finished supply (kt Mo)
  • China net imports of molybdenum concentrate and ferromolybdenum (kt Mo)
  • Molybdenum prices: recent trends
  • Molybdenum prices: future trends
  • FeMo conversion premiums
  • Molybdenum mine supply by country: base case, probable and possible
  • Niobium production by country, 2023
  • Niobium global production capacity
  • Niobium production costs, C1
  • Forecast crude steel production
  • Forecast stainless steel production
  • Finished molybdenum demand (kt Mo)
  • 32 more item(s)...

What's included

This report contains:

  • Document

    Global noble steel alloys strategic planning outlook - Q1 2024

    PDF 1.37 MB