Molybdenum News Center

China Molybdenum Price - October 15, 2021

China molybdenum price rebounded in the week ended on Friday October 15, 2021 supported by factors such as the increase in the popularity of the steel recruitment market, the willingness of molybdenum mining companies to ship products and the rise in international molybdenum prices.

In the molybdenum concentrate market, the fundamentals of supply and demand were good. In the case of increased enthusiasm for inquiries and purchases by downstream users, holders have also strengthened their profit-taking mentality, which in turn made the spot liquidity acceptable, but the transaction price was still at a low level.

In the ferro molybdenum market, the price of steel tender was rising after the National Day, which is the main reason for the increase in the awareness of the intermediate smelting enterprises to reluctantly sell and keep the price. However, due to the impact of dual-control power rationing, there were still a few steel companies in the state of maintenance.

In the molybdenum chemical industry and its products market, the overall wait-and-see atmosphere was relatively strong, end customers remained rigid demand and molybdenum chemical companies were reluctant to sell, which made it difficult to update the prices of molybdenum powder, ammonium molybdate and other products. At present, the industry focuses on the upstream market.

In terms of news: China Steel Association data showed that in early October, key statistical steel companies produced 18.73116 million tons of crude steel, 16.7079 million tons of pig iron and 18.3011 million tons of steel. Among them, the daily output of crude steel was 1,873,200 tons, a month-on-month increase of 5.9%; the daily output of pig iron was 1,670,800 tons, a decrease of 0.62% from the previous month; the daily output of steel was 1,830,100 tons, a decrease of 1.82% from the previous month.

Prices of molybdenum products on October 15, 2021

Picture of ammonium molybdate

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