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China Molybdenum Powder Price - November 4, 2020

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and molybdenum powder prices are unchanged from the previous trading day under the chaotic global market. Traders have different views on the market outlook. Therefore, trading activity is low. 

From the perspective of favorable factors, firstly, steel mills entered the site one after another for bidding at the beginning of the month, which brought strong momentum to the increase in market activity. In the short term, the price of molybdenum chemical products is unlikely to fall; secondly, downstream users basically maintain just-need purchases under relative tight supply, which plays a role in stabilizing traders' mentality to a certain extent.

From the perspective of negative factors, firstly, the second wave of epidemic in Europe continued to ferment, causing many countries to lock down cities again, which slowed down the international logistics and transportation, and the export market performed poorly; secondly, steel companies were active in tenders in October. As a result, some traders believe that the number of steel bids may decrease in the future, which is not conducive to the upward adjustment of the quotations of holders.

From January to September 2020, the output of blast furnace pig iron in 38 countries was 967 million tons, down 2.1% from the same period last year. Among them, the output in September was 109 million tons, an increase of 1.6% from the same period last year. During the same period, the direct reduced iron production in 12 countries was 61.985 million tons, a decrease of 10.1% from the same period last year. Among them, the output in September was 6.84 million tons, a decrease of 10.4% from the same period last year.

Prices of molybdenum products on November 4, 2020

Picture of molybdenum powder

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