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China Molybdenum Price - June 11, 2021

China molybdenum price showed a steady upward trend in the week ended on Friday, June 11, 2021. In addition to the good international market sentiment, which played a role in supporting the increase in confidence in the domestic market, the tight supply was the main reason for the sharp increase in prices.

In the molybdenum concentrate market, some molybdenum mining companies quoted prices as high as 2,115 yuan per ton. This is mainly due to the limited raw material inventory, the increase in downstream user demand and the support of rising overseas molybdenum raw materials; in the ferromolybdenum market, steel companies were willing to bid actively, and the bidding price was considerable, coupled with the support of production costs, intermediate smelting companies were more aware of price increases, the current price of ferro molybdenum has reached around 145,000 yuan/ton.

In May 2021, China imported 1.206 million tons of steel, a month-on-month increase of 32,000 tons, an increase of 2.7%; the average price was US$1525.1/ton, a month-on-month increase of US$260.0/ton, an increase of 20.6%. In the same period, China exported 5.271 million tons of steel products, a decrease of 2.702 million tons from the previous month, a decrease of 33.9%; the average price was 1141.5 US dollars/ton, an increase of 213.2 US dollars/ton from the previous month, an increase of 23.0%.

Prices of molybdenum products on June 11, 2021

Picture of molybdenum electrode 

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