Commodity Market Report

Global noble steel alloys strategic planning outlook - Q2 2023

Get this report*


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Within the noble alloys space, demand will be driven by an increase in intensity of use of molybdenum, niobium and vanadium in steel. The molybdenum market remains tight in 2023 but new projects will lift production in the short-term, narrowing the recent market deficits. By 2024, we expect the market to be back into surplus. The main driver of market balance over the next decade will be supply growth. Vanadium demand is on the rise due to its increasing usage in crude steel and the growing popularity of VRB technologies. This trend is further fuelled by the deployment of new energy storage installations to support renewable energy capacity. Meanwhile, the niobium market is projected to grow, due to the rising demand from steel. Despite growing demand, niobium supply is expected to remain adequate as major producers are currently under-utilised and can meet the supply shortfall.

Table of contents

  • Molybdenum
  • Vanadium
  • Niobium

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Global Noble Steel Alloys Strategic Planning Outlook – Q2 2023.pdf

    PDF 1.28 MB