China Molybdenum Bar Price - July 3, 2020
- Details
- Category: Molybdenum's News
- Published on 08 July 2020
- Written by Shuxia
- Hits: 94
Molybdenum market quotation in China: molybdenum bar price remains unchanged from the previous trading day while ammonium molybdate and ammonium heptamolvbdate prices decline slightly due to the weak market.
European and US molybdenum oxide prices are currently at three-year lows of $7.20-7.40/lb du Rotterdam and $7.45-7.65/lb fob US warehouse, respectively, with sellers struggling to drum up enough local spot business as lockdown measures drag on. As a result, they are now diverting more material toward China, where demand has already rebounded post-lockdown.
Ex-works China ferro-molybdenum prices shed 24.4pc year on year to reach $13.43/kg on 26 June. Notably, its correlation with copper prices has tightened during the pandemic as shocks to both metals' demand fundamentals happened quickly and in parallel.
Prices of molybdenum products on July 3, 2020
Picture of molybdenum bar
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