Molybdenum News Center

Sodium Molybdate Price - November 3, 2021

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices continue to decline slightly on November 3, 2021. As the market faces many instabilities, both buyers and sellers remain cautious and are not willing to make a concession. 

From the perspective of the supply side, affected by factors such as the power curtailment policy in some regions, the upgrade of energy consumption control measures and the strengthening of environmental protection crackdowns, the production of many molybdenum companies has been greatly restricted, resulting in low spot inventories of molybdenum concentrates, ferromolybdenum and other products, which is conducive to the supplier's firm quotation.

From the demand side, most steel companies’ delays in purchasing time and general end-customer demand are the main reasons for the exhaustion of the entire molybdenum market. However, supported by the good development of downstream emerging industries and traditional industries, some industry players are still concerned about the fourth quarter. There are expectations for the recovery of ferromolybdenum market demand.

In addition, the international molybdenum price fluctuates within a narrow range and the transaction is weak, which will greatly hinder the domestic molybdenum market from heating up.

News: According to customs data, in September, China exported 4.92 million tons of steel, down 13.3% month-on-month and up 28.5% year-on-year; imported steel 1.26 million tons, up 18.2% month-on-month and down 56.3% year-on-year. From January to September, China exported 53.02 million tons of steel products, a year-on-year increase of 31.3%; cumulative imports of steel products were 10.72 million tons, a year-on-year decrease of 28.9%.

Prices of molybdenum products on November 3, 2021

Picture of molybdenum electrode 

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