Commodity Market Report
Noble steel alloys short-term outlook April 2022
Report summary
Noble alloys prices have been well supported recently. Vanadium pentoxide prices recently reached their highest levels since April 2019, owing to supply-side tightness. Several Chinese co-producers paused operations to undertake maintenance in Q1, while there were concerns over Russian supply in the wake of the Ukraine conflict. Molybdenum prices have remained at elevated levels, supported by supply-side weakness. It is only in 2023 that mine supply is expected to recover, thanks to the commissioning of new projects. Niobium prices, meanwhile, have exhibited their characteristic price stability.
Table of contents
- Molybdenum
- Niobium
- Vanadium
-
Molybdenum
- Narrowing deficits to erode some price support
-
Niobium
- Niobium prices to ease back to historical levels through 2023
-
Vanadium
- Vanadium pentoxide prices plateau through April
- Ferrovanadium prices declining earlier than pentoxide
- Crude steel trends
- Stainless steel trends
-
Molybdenum
- Steel and stainless steel production to underpin demand in 2022
-
Niobium
- Niobium demand to rise, but still below 2019 levels
-
Vanadium
- VRB installations to pick up pace in 2022
-
Molybdenum
- Weak guidance and disruptions to hold back mine supply
-
Niobium
- Niobium production continues strong growth
-
Vanadium
- Vanadium supply to recover through the year
Tables and charts
This report includes 20 images and tables including:
- Molybdenum key forecasts
- Niobium key forecasts
- Vanadium key forecasts
- Crude steel production (Mt)
- Stainless steel production (kt)
- Europe Molybdenum oxide and ferromolybdenum prices
- China-Europe molybdenum oxide and FeMo price spread, and net imports
- Ferroniobium prices
- Vanadium pentoxide prices
- Ferrovanadium prices
- Finished Molybdenum consumption
- Niobium demand by product
- Vanadium demand
- Molybdenum mine production by country
- Brazil monthly ferroniobium exports
- China imports of ferroniobium from Canada
- Niobium production by country
- Niobium production by producer
- Vanadium feedstock supply (kt V)
- Monthly Chinese ferrovanadium exports
What's included
This report contains:
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