Molybdenum News Center

Sodium Molybdate Price - December 17, 2021

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices rose slightly in the week ended on Friday, December 17, 2021. 

At the beginning of the week, many molybdenum product prices were in a stalemate due to the lower than expected steel bidding price. However, due to the tight supply of molybdenum concentrates near the weekend, the molybdenum price rose sharply, which also caused the industry to worry about the market outlook.

In the molybdenum concentrate market, under the combined influence of the high willingness of downstream users to inquire and purchase and the low stock of raw materials, holders are more aware of price increases. The current price of molybdenum concentrate has exceeded 2,300 yuan/mtu. 

In the ferromolybdenum market, product prices have risen passively. In order to avoid the risk of inversion, the quotations of intermediate smelting companies have been adjusted upwards in line with the increase in the price of molybdenum concentrates. However, some steel companies postpone their procurement plans, resulting in slower growth in orders; in the molybdenum chemicals and its products market, the fundamentals of supply and demand are general. Although the supplier's quotations have been raised due to the strong bullish sentiment in the upstream market, since many end customers have certain inventory, the transaction remains to be seen.

News: From January to September 2021, global stainless steel crude steel production increased by approximately 16.9% year-on-year to 42.98 million tons. From a regional perspective, Europe increased by about 17.9% to 5.413 million tons, the United States increased by about 16.1% to 1.83 million tons, and China increased by about 8.8% to 23.831 million tons. Asia (mainly India, Japan and Taiwan) increased by about 25.6% to 5.769 million tons, and other regions (mainly Indonesia, South Korea, South Africa, Brazil, and Russia) increased by about 50.0% to 6.137 million tons.

Prices of molybdenum products on December 17, 2021

Picture of molybdenum crucible 

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