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Molybdenum Concentrate Price - December 16, 2020

Molybdenum market quotation in China: ferro molybdenum, molybdenum concentrate and molybdenum oxide prices continue to climb on December 16, 2020 due to improved buying appetite of buyers and good expect for the outlook. 

From the perspective of positive factors, firstly, the recent slight increase in international molybdenum prices and the relatively considerable bidding prices for ferro molybdenum have boosted market confidence and made suppliers keep firm offers; secondly, under continued low molybdenum prices and cold weather, molybdenum mining companies cut output. Therefore, it is unlikely that prices will fall in the short term.

From the perspective of negative factors, firstly, the number of tenders for ferromolybdenum by steel mills is still limited, which greatly affects the quotations of intermediate smelting companies and the increase in product prices; secondly, there is no major positive news on the policy side, which also leads to downstream’s weakness in user demand.

In November 2020, China's crude steel output was 87.66 million tons, an increase of 8% year-on-year, while the average daily output was 2.922 million tons; the crude steel output from January to November was 96.16 million tons, an increase of 5.5% year-on-year. The steel output was 117.34 million tons, an increase of 10.8% year-on-year, while the average daily output was 3.911 million tons; the steel output from January to November was 1.220.3 million tons, an increase of 7% year-on-year.

Prices of molybdenum products on December 16, 2020

Picture of ferro molybdenum

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