China Molybdenum Price - December 25, 2020

molybdenum needle imageChina molybdenum price was in the upward trend in the week ended on Friday December 25, 2020 affected by active steel tenders and tight supply of raw materials. But market trading still needed to be Improved. 

Viewing from the supply side, first, as the temperature drops and environmental protection pressure increases, the difficulty of molybdenum mining companies to mine ores also increases, which in turn leads to a slowdown in inventory growth and is conducive to the upward adjustment of market prices; second, the recent international molybdenum product prices are relatively considerable, which will delay the time for importers to get the goods to some extent, so low-price resources are hard to find in the current market.

Viewing from the demand side, first, as the holiday of New Year’s Day is approaching, the activity of overseas market transactions is slowly declining. Fortunately, many domestic downstream companies have completed their purchase plans ahead of time for the holidays, increasing market enthusiasm, and the total amount of steel recruitment this week is considerable; second, the continued spread of the epidemic and the absence of major positive news from the policy side have caused long-term sluggish demand from end customers and difficulties in trading volume.

In November 2020, China’s steel sheet exports were 2.8 million tons, an increase of 4.60% year-on-year; the cumulative exports from January to November were 29.7 million tons, down 17.00% from the same period last year. China exported 450,000 tons of steel bars in November, a year-on-year decrease of 24.80%; from January to November, the total export volume was 6.27 million tons, a 30.60% decrease from the same period last year. In November, China exported 190,000 tons of steel wire rod, an increase of 14.50% year-on-year; from January to November, the total export volume was 1.83 million tons, a decline of 2.20% from the same period last year.

Prices of molybdenum products on December 25, 2020

China molybdenum price image

Picture of molybdenum needle 

molybdenum needle image

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