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China Molybdenum Price - January 29, 2021

China molybdenum price remained stable in the week ended on Friday January 29, 2021 due to quiet steel tenders and low trading activity. In the short term, the market is expected to remain weak adjustment. 

In the molybdenum concentrate market, the supply and demand were relatively balanced. Although the downstream operating sentiment was not high, molybdenum companies generally maintained firm quotations under the support of tight supply of molybdenum concentrate and high production costs; in the ferromolybdenum market, overall transactions were small. The low bidding price of downstream steel companies wss the main reason that intermediate smelting companies were unwilling to ship. The current price of ferromolybdenum is about 105,000 yuan/ton; the market for molybdenum chemical and its products was slightly optimistic, which is mainly benefited from increased inquiries and purchases from end customers. In this case, suppliers have a strong mentality of reluctant to sell and would like to make profit.

In 2020, the national industrial enterprises above designated size achieved a total profit of 645.161 billion yuan, a year-on-year increase of 4.1% (calculated on a comparable basis). Among them, state-owned holding companies realized total profits of 1,486.08 billion yuan, a year-on-year decrease of 2.9%; joint-stock companies realized total profits of 454.453 billion yuan, an increase of 3.4%; foreign, Hong Kong, Macao and Taiwan-invested enterprises realized total profits of 1823.41 billion yuan, an increase of 7.0%; private enterprises The total profit realized was 2026.18 billion yuan, an increase of 3.1%.

Prices of molybdenum products on January 29, 2021

Picture of ammonium heptamolybdate

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