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Molybdenum Price in China - April 3, 2020

The molybdenum price in China bottomed out in the week ended on Friday April 3, 2020 as downstream users became active in stocking up, boosting market confidence.

Most molybdenum concentrate manufacturers kept firm offers due to the slight rise in international molybdenum prices and the government's active promotion in developing new energy vehicle industry. The ferro molybdenum market was stable affected by the active steel tenders. But purchasers still sought for low-price resources, resulting in the difficulty in price rise. The molybdenum chemical and product market was caught in wait-and-see atmosphere with thin market demand. 

Global stainless steel crude steel output reached 52.218 million tons in 2019, an increase of about 2.9% compared with 50.73 million tons in the previous year. Among them, in addition to the increase of about 10.1% to 29.4 million tons in mainland China, other major regions have experienced varying degrees of decline: Europe fell by about 7.9% to 6.805 million tons, and the United States fell by about 7.6% to 2.593 million tons, excluding China Asia, South Korea, and Indonesia fell by approximately 3.7% to 7.894 million tons, while other regions (Brazil, Russia, South Africa, South Korea, and Indonesia) fell by 2.0% to 5.525 million tons, according to the data from International Stainless Steel Forum.

Prices of molybdenum products on April 3, 2020

Picture of molybdenum powder

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