Molybdenum News Center

Molybdenum Bar Price - October 18, 2021

Molybdenum market quotation: ferro molybdenum, molybdenum oxide and molybdenum bar prices remain unchanged on October 18, 2021 as the market is in a stalemate and traders remain cautious. 

Favorable factors in the market include the more impressive steel bidding price after the National Day compared to the end of September and the bottoming of the international molybdenum market, prompting domestic molybdenum chemical companies to increase bullish sentiment; negative factors include the fact that the power restriction policy in many places has not been cancelled, which has caused some steel companies to stop production and reduce production, affecting the heating up of the ferromolybdenum market. In addition, the lack of capital flow is also one of the reasons that downstream users are extremely cautious in stocking.

News: World Steel Association’s October version of the short-term demand forecast stated that global steel demand will continue to grow by 4.5% in 2021 to 1,855.4 million tons after an increase of 0.1% in 2020; it will increase by 2.2% to 1,896.4 million tons in 2022. The new forecasts of steel demand in 2021 and 2022 are respectively 18.6 million tons and 26.8 million tons less than the previous forecasts, a decrease of 1% and 1.5% respectively.

Prices of molybdenum products on October 18, 2021

Picture of molybdenum bar 

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