Molybdenum News Center

China Molybdenum Price - November 6, 2020

China molybdenum price was in the upward trend in the week ended on Friday November 6, 2020. Although downstream demand failed to meet market expectation, under the relative inventory shortage, molybdenum chemical and product enterprises had strong raised mentality. 

From the perspective of positive factors, firstly, international molybdenum prices have increased with the approaching of the weekend, which has a positive impact on traders’ firm quotation confidence to a certain extent. In the short term, the market price will not drop much. Secondly, steel companies entered the market one after another for bidding at the beginning of the month, and the bidding price rose slightly from last week. This is also the reason why the pessimism of ferromolybdenum manufacturers has subsided.

From the perspective of negative factors, firstly, although market expectations for new energy vehicles, new infrastructure, and 5G are improving, it is still difficult to offset the harm caused by the shrinking global economic market to end customers. Previously, the molybdenum chemical industry and its products market had a strong wait-and-see sentiment. Secondly, the worsen epidemic in Europe has led to the recurrence of state closures in some countries, which is not conducive to the export of my country's molybdenum products to Europe.

Prices of molybdenum products on November 6, 2020

Picture of molybdenum crucible 

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