Molybdenum News Center

Sodium Molybdate Price - November 26, 2020

Molybdenum market quotation in China: the sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices are unchanged from the previous trading day due to cautious sentiment of both buyers and sellers. The whole market trading is low without the stimulate of favorable news. Most insiders have good expect for the outlook. 

In the molybdenum concentrate market, in addition to the slow recovery of downstream demand, which has brought greater strength to confidence in the market, due to the drop in temperature, it is becoming more and more difficult for molybdenum mining companies to mine. Therefore, the production capacity has decreased slightly.

The ferromolybdenum market has improved slightly. In addition to the good price of steel biddings and firm molybdenum concentrates price, the number of tenders for steel companies has increased. This is also the reason why ferromolybdenum merchants’ confidence is boosted. Now the offers for ferro molybdenum range between RMB98,000-101,000/ton.

In the molybdenum chemical market, the transaction is expected to rebound. With the end users still maintaining just-need purchases and raw material prices still at relatively high levels, suppliers have a heavier expectation for growth, and market expectations are positive. The current price of ammonium tetramolybdate is RMB99,000 per tone and ammonium heptamolybdate price is about RMB103,000/ton.

In mid-November 2020, key statistical iron and steel companies produced a total of 21.134 million tons of crude steel, 18,686,900 tons of pig iron, 20,647,100 tons of steel, and 3.2282 million tons of coke, according to data from China Steel Association.

Prices of molybdenum products on November 26, 2020

Picture of molybdenum sheet 

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