Commodity Market Report
Noble steel alloys short-term outlook July 2022
Report summary
Macroeconomic uncertainty has been rising in recent months, driven by the impact of the Russia/Ukraine conflict. Inflation is on the rise, with significant price increases in the US and the European Union, to name just two. As a result, there has been a further downgrade to Wood Mackenzie’s macroeconomic forecasts. This has already had an impact on the noble alloys, with molybdenum and vanadium prices seeing further declines on top of the falls registered in June. Niobium prices, on the other hand, have remained largely flat.
Table of contents
- Molybdenum
- Niobium
- Vanadium
-
Molybdenum
- Macro uncertainty and approaching seasonal lull drag prices lower
-
Niobium
- Niobium price rally starts to unwind
-
Vanadium
- Prices continue downward trend
- Crude steel trends
- Stainless steel trends
-
Molybdenum
- Forecasts downgraded as steel markets deteriorate
-
Niobium
- Niobium demand impacted by weak construction sector
-
Vanadium
- First phase of major Chinese VRB project installed to the grid
-
Molybdenum
- Modest upgrade to supply forecasts, but short-term weakness persists
-
Niobium
- CBMM output lower on weakening demand
-
Vanadium
- Disruptions to vanadium supply in Q2
Tables and charts
This report includes 22 images and tables including:
- Molybdenum key forecasts
- Niobium key forecasts
- Vanadium key forecasts
- Crude steel production (Mt)
- Crude stainless steel production (Mt)
- China rebar production (kt)
- Vanadium demand
- Europe Molybdenum oxide and ferromolybdenum prices
- Ferroniobium prices
- Vanadium pentoxide prices
- Ferrovanadium prices
- Finished molybdenum consumption (kt Mo)
- H1 2022 year-on-year changes in ferroniobium imports
- Niobium demand by product
- Annual VRB installations and vanadium consumption
- Molybdenum mine production by country (kt Mo)
- Estimate of CBMM ferroniobium exports from Port de Santos, 2022
- Niobium production by producer
- China imports of ferroniobium from Canada
- Niobium production by country
- Vanadium feedstock supply (kt V)
- Monthly Chinese ferrovanadium exports
What's included
This report contains:
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