Commodity Market Report
Noble steel alloys short-term outlook October 2022
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
-
Molybdenum
- Chinese buying activity buoys prices
-
Niobium
- Niobium price declines further
-
Vanadium
- Prices to slide until January
- Crude steel trends
- Stainless steel trends
-
Molybdenum
- Modest revisions to demand forecasts
-
Niobium
- Europe’s falling power prices provide a reprieve
-
Vanadium
- Dual crisis in Europe and China weighs on demand
- VRB announcements pick up steam
-
Molybdenum
- Supply remains tight for the time being
-
Niobium
- Brazilian ferroniobium exports weaker than 2021
-
Vanadium
- Lower Chinese steel production and disruptions lower supply
Tables and charts
This report includes 23 images and tables including:
- Molybdenum key forecasts
- Niobium key forecasts
- Vanadium key forecasts
- Crude steel production (Mt)
- Crude stainless steel production (Mt)
- Europe Molybdenum oxide and ferromolybdenum prices
- More attractive Chinese prices drawing in material
- 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
- China rebar production (kt)
- Vanadium demand
- Annual VRB installations and vanadium consumption
- Molybdenum mine production by country (kt Mo)
- Niobium production by producer
- Brazil monthly ferroniobium exports
- China imports of ferroniobium from Canada
- Niobium production by country
- Vanadium feedstock supply (kt V)
- Monthly Chinese ferrovanadium trade
What's included
This report contains:
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