Demand for steel alloys grows

Steel alloys are mainly used in the steel industry – but battery and energy storage applications mean they will also play an increasingly important role in the energy transition, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).  

Stainless steel: long term growth dominated by China  

Global stainless steel melt production is expected to be about 62 million tonnes (Mt) in 2022, rising to 90 Mt by 2050. China currently accounts for 60% of production and is home to six of the world’s top ten producing companies. It is also expected to be the main driver of future growth, supported by Indonesia and India.  

Ferro-Alloy Resources Limited (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan.  The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.

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