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China Molybdenum Powder Price - October 20, 2020

Molybdenum market quotation in China: molybdenum powder, ammonium molybdate and ammonium heptamolvbdate prices are unchanged from previous trading day on October 20, 2020 as both buyers and sellers enter the market slowly with limited deals concluded. 

The molybdenum concentrate market is generally in a weak balance between supply and demand. The decline in international molybdenum prices and the gradual return to calm in the steel market are the main reasons why molybdenum companies are currently unable to raise their quotations, and orders are limited.

The ferromolybdenum market is under pressure. In addition to the poor performance of steel companies’ bidding volume and price, the price of molybdenum concentrate is at a relatively high position, which also leads to factors that reduce the profits of smelting companies.

In the molybdenum chemical and its products market, on-site trading activity increased slightly. This was mainly due to the increased enthusiasm of terminal customers to receive goods. At present, the quotations of holders have basically remained strong and there is little room for bargaining.

According to data from the National Bureau of Statistics, China’s average daily output of crude steel was 3.085 million tons in September 2020, average daily output of pig iron was 2.526 million tons, and steel was 3.935 million tons. From January to September 2020, the capacity utilization rate of the ferrous metal smelting and rolling processing industry was 81.6%, an increase of 2.2% year-on-year; the capacity utilization rate of the ferrous metal smelting and rolling processing industry in the first three quarters was 77.7%, a year-on-year decrease of 2.2%.

Prices of molybdenum products on October 20, 2020

Picture of molybdenum powder

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