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China Molybdenum Price - February 24, 2021

China molybdenum price shows a steady and progressive trend on February 24, 2021. Under the background that the global epidemic is well controlled, the prices of bulk commodities have risen, coupled with the good atmosphere of the international molybdenum market, domestic molybdenum chemical companies are willing to trade. 

In the molybdenum concentrate market, the overall buying and selling atmosphere is still good. Driven by the increase in overseas molybdenum prices and the strong demand from downstream users, the price of molybdenum concentrate has risen sharply, about 1,700 yuan per ton. In this context, molybdenum mining companies’ willingness to take the initiative to ship is also higher.

The ferromolybdenum market is improving. In addition to the high price of raw materials and difficult procurement, which supports the confidence of ferromolybdenum merchants in quotation, the bidding volume and price of steel plants are considerable, which is also the main reason for the significant increase in activity in the market. The tender price for ferro molybdenum is around 115,000 yuan/ton.

In the molybdenum chemical industry and its products market, sellers have strong rised mentality. And with the impact of good upstream and nternational market, the attitude of holders to rise has also increased.

In 2020, the top 10 provinces for crude steel production are Hebei, Jiangsu, Shandong, Liaoning, Shanxi, Anhui, Hubei, Henan, Guangdong, and Inner Mongolia. Among them, the output of crude steel in Hebei Province was 249.7695 million tons, ranking first, according to the data from the National Bureau of Statistics.

Prices of molybdenum products on February 24, 2021

Picture of molybdenum boat 

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