Molybdenum Concentrate Price - September 10, 2021

molybdenum block image China’s domestic molybdenum market was in an awkward situation in the week ended on Friday September 10, 2021. The drop in steel bidding prices and quantity caused the demand in the entire molybdenum market to fall into a weak state, and even led to a slight decline in the prices of some molybdenum products. 

However, supported by limited raw material inventories and the arrival of the "Golden Nine, Silver and Ten" seasons, suppliers have a strong sense of quotation. 

In the molybdenum concentrate market, the overall market remained sideways. At the beginning of the week, due to the insufficient consumption capacity of downstream users, on-site purchases and sales were calm; near the weekend, as buyers’ inquiries increased, and molybdenum companies’ profit-making mentality strengthened, the transactions were fair. The molybdenum concentrate price is around RMB 2,460 per mtu.

In the ferromolybdenum market, the overall pressure is obvious. Under the operation of high raw material prices, the low willingness of steel companies to receive goods and the decline in bidding prices are the main reasons for the greater risk of inverted smelting enterprises. However, due to the approach of the double festival, the steel recruitment market may rise next week.

In the molybdenum chemical and its products market, there is a strong wait-and-see sentiment in the market. Product prices are mainly affected by the relationship between supply and demand. As end customers basically maintain rigid demand and the upstream market is reluctant to sell and have a high price sentiment, it is difficult to update the quotations of molybdenum chemical companies. Molybdenum powder and molybdenum sodium prices are deadlocked at 317 yuan/kg and 112,000 yuan/ton respectively.

In the news: In August 2021, the national factory prices for industrial producers rose 9.5% year-on-year and 0.7% month-on-month; the purchasing prices for industrial producers rose 13.6% year-on-year and 0.8% month-on-month. On average from January to August, the ex-factory prices for industrial producers rose by 6.2% year-on-year, and the purchasing prices for industrial producers rose by 8.6%.

Prices of molybdenum products on September 10, 2021

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Picture of molybdenum block 

molybdenum block image

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