Molybdenum News Center

Sodium Molybdate Price - November 24, 2021

Molybdenum market quotation in China: ferro molybdenum, sodium molybdate and ammonium heptamolvbdate prices are unchanged from the previous trading day on November 24, 2021 under the stable supply of raw materials. 

In the molybdenum concentrate market, although with the arrival of the winter and the Winter Olympics, environmental protection efforts have been strengthened, forcing some molybdenum companies to shrink their production. It is still difficult to offset the market demand that is not as expected to bring to the holders. The current price of molybdenum concentrate is at a stalemate.

In the ferromolybdenum market, the overall activity has increased slightly. In addition to the month-end approaching and the steel companies themselves have purchase plans, the price of ferromolybdenum is not high, which is also the main reason for the increase in the willingness of most steel companies to receive goods. Therefore, the bulk order volume prices are rising.

In the molybdenum chemical and its products market, the buying and selling atmosphere in the market is relatively calm. Affected by the lack of upstream and downstream support capabilities, traders are more cautious in entering the market and mostly wait and see. 

World Steel Association data show that global crude steel production in October decreased by 10.6% year-on-year to 146 million tons. China’s October crude steel production was 71.6 million tons, a year-on-year decrease of 23.3%; India’s output was 9.8 million tons, an increase of 2.4% year-on-year; Japan’s output was 8.2 million tons, an increase of 14.3% year-on-year; the United States’ production was 7.5 million tons, a year-on-year increase of 14.3%. An increase of 20.5%.

Prices of molybdenum products on November 24, 2021

Picture of molybdenum crucible 

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