Molybdenum News Center

Molybdenum Concentrate Price - June 24, 2021

Molybdenum market quotation in China: molybdenum powder and bar prices continue to rise while molybdenum concentrate price is unchanged on June 24, 2021. 

In addition to the difficulty of the international molybdenum price picking up again, which does not benefit the domestic market, the current relatively high domestic molybdenum price and the willingness of steel companies to enter the bidding are also the reasons for strong rised mentality of molybdenum chemical companies. At present, the actual transaction price of some products is slightly lower than the quotation, and the steel enterprises generally have a heavier price reduction mentality, and the bidding price is between 154,000-157,000 yuan/ton. However, in the medium and long term, the molybdenum market has a higher probability of improving.

In mid-June 2021, key statistical iron and steel enterprises produced a total of 23,953,800 tons of crude steel, 20,661,100 tons of pig iron, and 22,847,600 tons of steel. The average daily output this week was 2,395,400 tons of crude steel, an increase of 2.57% month-on-month and an increase of 15.99% year-on-year; pig iron was 2.066 million tons, an increase of 2.16% month-on-month, an increase of 12.60% year-on-year; steel 2,284,800 tons, an increase of 3.80% month-on-month, an increase of 18.05% . 

The EU said it will extend the quota and tariff system implemented since 2018 for another three years to protect EU steelmakers from potential surges in imports. Washington retained a 25% steel tariff and closed the US market to many exporters, prompting the European Union to take safeguard measures on 26 types of steel, including stainless steel.

Prices of molybdenum products on June 24, 2021

Picture of molybdenum rod 

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