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Molybdenum Concentrate Price - October 28, 2021

China molybdenum price remains weak adjustment on October 28, 2021 because the steel tenders failed to meet market expectation and the international molybdenum market’s support capacity is limited. 

At present, molybdenum concentrate price is basically around 2,270 yuan/ton, and the prices of ferro molybdenum and ammonium heptamolybdate are consolidating at 155,000 yuan/ton and 159,000 yuan/ton, respectively. In terms of steel recruitment, the total amount of steel recruitment of ferromolybdenum in October was about 5,000 tons as of today. 

However, due to the recent increase in environmental protection crackdowns, the unwinding of power curtailment policies in many places, and the increase in the price of molybdenum auxiliary materials, molybdenum mining companies and ferro-molybdenum merchants are generally subject to certain restrictions on the release of production capacity, and the production costs are relatively high. To avoid the risk of price inversion, sellers basically remain cautious. 

In terms of news: According to data from the National Bureau of Statistics, from January to September 2021, industrial enterprises above designated size across the country achieved a total profit of 634.408 billion yuan, a year-on-year increase of 44.7%. During the same period, the mining industry realized a total profit of 70.69 billion yuan, an increase of 1.62 times; the manufacturing industry realized a total profit of 5298.64 billion yuan, an increase of 42.9%; the electricity, heat, gas and water production and supply industries realized a total profit of 344.75 billion yuan, a decrease of 15.2% .

Prices of molybdenum products on October 28, 2021

Picture of ferro molybdenum

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