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China Ferro Molybdenum Prices - October 28, 2019

Molybdenum market quotation in China: the latest molybdenum concentrate and ferro molybdenum prices declined slightly while ammonium heptamolvbdate price remains unchanged from last week. The market now is still in a stalemate at the end of October with persistent weakness in the demand side. 

Under the poor performance of steel tenders, low trading and relatively weak international molybdenum market, most market participants still remain rigid demand to control their inventory in a reasonable level. And affected by environmental protection policy reducing raw material supply, mining enterprises keep firm offers.  

It was reported that From January to September 2019, China's cumulative export of steel products was 50.105 million tons, down 5.0% year-on-year; the export value was 285.19 billion yuan, down 4.4% year-on-year. In the same period, China imported 8.753 million tons of steel products, down 12.2% year-on-year; the import value was 71.02 billion yuan, a year-on-year decrease of 12.7%. From January to August of 2019, China's steel industry operating income was 5.58 trillion yuan, although the year-on-year growth was 8.9%, the profit was 225.99 billion yuan, down 24.7% year-on-year. The industry profit rate was 4.05%, down 1.8 percentage points year-on-year.

Prices of molybdenum products on Oct. 28, 2019

Picture of ferro molybdenum

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