Molybdenum News Center

China Molybdenum Oxide Price –May 12, 2021

China’s domestic molybdenum price is in the upward trend in the middle of May, 2021 in response to tightening availability of raw materials. The short-term market trend is expected to continue to be strong.

At present, molybdenum concentrate price is about RMB 1,820/ton, ferro molybdenum price is about RMB 123,000/ton and molybdenum oxide price is about RMB 1,930/ton. 

Favorable factors include: first, due to the recent environmental protection, some molybdenum chemical companies have cut production or even stopped production, so the release of molybdenum concentrate production has been reduced; second, from the end of last month to the present, steel companies have entered the market for bidding and relatively considerable prices are the main source of motivation for the market to get rid of the original gloomy sentiment; third, the central bank's monetary policy has continued to be loose in the recent period, and commodity prices have increased, which has played a certain role in supporting the confidence of molybdenum companies in raising prices.

According to data released by the National Bureau of Statistics, the CPI (National Consumer Price Index) rose by 0.9% year-on-year in April and fell by 0.3% month-on-month, and the rate of decline narrowed by 0.2% from the previous month. PPI (National Industrial Producer Price) rose by 6.8% year-on-year, the largest increase since 2017, exceeding the previous value by 4.4%, and a month-on-month increase of 0.9%; among the major industries, ferrous metal smelting and rolling processing industries rose by 30.0%, an increase of 8.5 percentage points.

Prices of molybdenum products on May 12, 2021

Picture of molybdenum powder

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