China Molybdenum Price - November 27, 2020
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- Category: Molybdenum's News
- Published on 27 November 2020
- Written by Shuxia
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China molybdenum price maintained stability in the week ended on Friday November 27, 2020 due to low trading activity affected by weak economic conditions and the second wave of Covid-19.
Prices for 57pc molybdenum concentrates broke through the $8.50/lb ex-works China level on 13 August, while oxide prices in Rotterdam were close to $8/lb. Rising ferro-molybdenum alloy prices because of increased economic activity, primarily in Asia-Pacific, and with notable signs of improvement in Europe, drove oxide prices higher.
Earlier this year, prices for all forms of molybdenum units slumped across the world on lower demand as energy and automotive sectors suffered from lockdown measures and social distancing rules. Some reports from European car manufacturers illustrate that large production facilities continue to struggle to regain 80pc of their previous operating capacities and new sales remain down by 5.7pc to a rate of 14mn annual vehicles across Europe due largely to Covid-19.
Prices of molybdenum products on November 27, 2020
Picture of ferro molybdenum
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