Molybdenum News Center

Ferro Molybdenum Price - November 1, 2021

China’s domestic molybdenum market was weak at the beginning of the week affected by the low buying appetite of consumers as well as heavy wait-and-see atmosphere in the market. 

At present, molybdenum concentrate price is about 2,240 yuan/mtu, ferro molybdenum price is about 154,000 yuan/ton, molybdenum oxide is price about 2,350 yuan/mtu. 

According to Chinatungsten Online, the volume and price of steel companies’ bidding in October was not as good as expected, which was the main reason why the entire molybdenum market fell into a weak state. Due to limited quantities and the support of production costs, traders generally maintain rational price adjustments.

Judging from the PMI of the steel industry, it was 38.3% in October, a decrease of 6.7 percentage points from the previous month. The steel industry is operating tightly. Among the sub-indices, the new order index in October dropped by 10.8 percentage points from the previous month to 28.2%; the new export order index was 38.7%, which was lower than 40% for four consecutive months. The production index was 36.8%, a decrease of 9.2 percentage points from the previous month; the purchase volume index was 37.0%, a decrease of 2.7 percentage points from the previous month; the purchase price index was 60.0%, an increase of 8.4 percentage points from the previous month.

Prices of molybdenum products on November 1, 2021

Picture of ferro molybdenum

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