China Molybdenum Price - October 9, 2020

molybdenum powder image China molybdenum price kept stable in the first trading day after the holiday of Mid-autumn Festival and National Day. Market participants in the whole industry enter the market in no hurry, controlling inventories reasonably. 

In addition to the National Day holiday which affects consumers’ purchasing enthusiasm, the new round of steel bidding has not yet started and the current macroeconomic market conditions are not good. These are all reasons why it is difficult to increase the price of molybdenum chemical products. However, environmental protection and high raw materials costs make many holders still keep a strong mentality to price.

In terms of news: the total amount of ferromolybdenum tendered by major steel plants in September was about 9,600 tons, which was a decrease of 6,000 tons from the 10,200 tons in August, but an increase of 18.5% year-on-year; the total amount of ferromolybdenum bid for steel from January to September 2020 was about 78,200 tons , an increase of 1.68% year-on-year.

Prices of molybdenum products on October 9, 2020

China molybdenum price image

Picture of molybdenum powder

molybdenum powder image

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