Molybdenum News Center

Ferro Molybdenum Price - December 9, 2020

Molybdenum market quotation in China: ferro molybdenum, molybdenum concentrate and molybdenum oxide prices increase slightly on December 9, 2020. Now most market participants have good expect for the outlook.

From the perspective of favorable factors, firstly, as the temperature gradually decreases, it is difficult for molybdenum mining enterprises to mine, thereby reducing the production; secondly, due to the slight increase in overseas markets and the relatively considerable bidding price of steel plants, traders have strong rised mentality; thirdly, many holders have a sense of profitability after a long period of price decline. 

From the perspective of negative factors, the first is that the epidemic situation in some overseas countries is still relatively serious, which has caused the international logistics and transportation to not fully return to the level before the epidemic, and that is not conducive to the recovery of the export market; the second is that there is no major positive news release on the policy side, which is also the reasons for the long-term weakness of user demand.

In November 2020, China imported 1.854 million tons of steel, a decrease of 78,000 tons (4%) from October; the average price was $870.5/ton, an increase of $67.5/ton (8.4%) from October, an increase of 8.4%, according to customs data. From January to January, a total of 18.859 million tons of steel was imported, an increase of 8.038 million tons or 74.3% from the previous year.

Prices of molybdenum products on December 9, 2020

Picture of molybdenum powder

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