Molybdenum News Center

China Molybdenum Price - December 24, 2021

China molybdenum price was in the upward trend on the whole in the week ended on Friday, December 24, 2021 affected by strong rised mentality of suppliers and active inquiry from downstream.

In the molybdenum concentrate market, the overall situation is gradually in short supply. In the case of low stock of raw materials, ferromolybdenum merchants have high stocking sentiment, which is the main reason for the increase in the price of holders. The current price of molybdenum concentrate has risen to around RMB2,360/mtu.

In the ferromolybdenum market, the trading atmosphere on the market is general. Although affected by the high pressure of environmental protection and the tightening of crude steel production restrictions, some steel mills have to suspend production and reduce production. However, in order to ensure that enterprises can operate normally before the Spring Festival, there are still a few steel products. Enterprises are willing to enter the market for bidding.

In the market of molybdenum chemical and its products, the market has turned from weak to strong. Molybdenum chemical companies have a strong price increase psychology, stimulated by the strong bullish sentiment in the upstream market. The price of ammonium tetramolybdate has exceeded RMB 150,000/ton. ammonium heptamolybdate price is close to RMB 160,000 /ton, but due to the lack of terminal demand and the stalemate in the international molybdenum market, the transaction needs to be improved.

In the news: According to the monitoring of the Ministry of Commerce, the market price of national production materials in November dropped by 0.9% month-on-month. Among them, the price of steel fell by 8.6% month-on-month and 23% year-on-year; the prices of rebar, high-speed wire rod, and hot-rolled strip fell 10.1%, 9.4%, and 7.7% month-on-month; coal prices increased by 6.1% month-on-month and 80.4% year-on-year. The prices of coal, No. 2 anthracite lump coal and thermal coal increased by 9.2%, 8% and 4.8% respectively from the previous month.

Prices of molybdenum products on December 24, 2021

Picture of molybdenum crucible 

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