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China Molybdenum Oxide Price - February 5, 2021

China molybdenum price moved up slightly in the week ended on Friday February 5, 2021 thanks to the upward adjustment of international molybdenum prices. 

Most molybdenum chemical companies were reluctant to sell their products at low prices. However, due to the dual impact of holidays and logistics constrain, downstream users’ purchasing plans reduced, leading to new increased orders. But some ferro-molybdenum manufacturers still need to work overtime to produce due to the support of long-term orders. The current molybdenum concentrate price is above 1,530 yuan/ton, ferro molybdenum price is around 107,000 yuan/ton, and molybdenum oxide price is advancing toward 1,640 yuan/ton.

In 2020, the cumulative crude steel output of private iron and steel enterprises was 665.69 million tons, an increase of 5.98% year-on-year. The proportion of national crude steel output increased from 62% in 2019 to 63.21%, an increase of 1.2 percentage points; cumulative pig iron output was 53.575 million tons, an increase of 5.2% from the same period last year, the proportion of national pig iron output increased from 58% in 2019 to 60%, an increase of 2 percentage points; cumulative steel output was 94.876 million tons, an increase of 8.9% year-on-year, and the proportion of national steel output increased from 70% last year to 71.6%, an increase of 1.6 percentage points.

Prices of molybdenum products on February 5, 2021

Picture of molybdenum oxide 

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