Commodity Market Report
Noble steel alloys short-term outlook October 2022
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Report summary
There was a divergence in noble alloys price trends in October. Tight market conditions meant that renewed molybdenum buying activity in China pushed prices higher. Although profit-taking set in later in the month, average October prices were still higher than in September. It was a different story for niobium and vanadium, however. Ferroniobium prices continued to fall in October, while China’s “COVID zero” policy and weak property market are likely to weigh on the market for the rest of the year. Meanwhile, vanadium prices fell to levels last seen in February 2021, under pressure from the dual crisis of energy in Europe and property in China.
Table of contents
- Molybdenum
- Niobium
- Vanadium
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Molybdenum
- Chinese buying activity buoys prices
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Niobium
- Niobium price declines further
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Vanadium
- Prices to slide until January
- Crude steel trends
- Stainless steel trends
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Molybdenum
- Modest revisions to demand forecasts
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Niobium
- Europe’s falling power prices provide a reprieve
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Vanadium
- Dual crisis in Europe and China weighs on demand
- VRB announcements pick up steam
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Molybdenum
- Supply remains tight for the time being
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
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Molybdenum key forecastsNiobium key forecastsVanadium key forecasts
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Crude steel production (Mt)Crude stainless steel production (Mt)Europe Molybdenum oxide and ferromolybdenum pricesMore attractive Chinese prices drawing in materialFerroniobium pricesVanadium pentoxide pricesFerrovanadium pricesFinished molybdenum consumption (kt Mo)H1 2022 year-on-year changes in ferroniobium imports
- 11 more item(s)...
What's included
This report contains:
