China Molybdenum Price - January 5, 2022

ferro molybdenum image China molybdenum price maintains stability at the beginning of the year 2022 as participants just come back from the holiday of New Year’s Day and the market keeps quiet. 

From the perspective of favorable factors, firstly, due to stricter environmental protection policies, extreme weather and tight coal and power supply in winter, many molybdenum mining companies have relatively difficult production, resulting in low molybdenum concentrate stocks, which is beneficial to holders' quotations; secondly, in order to ensure normal production and operation of enterprises before and after the Spring Festival, some steel companies are willing to enter the market for bidding, which can also reduce the market's cooling rate to a certain extent.

From the perspective of negative factors, firstly, most companies are tight on funds near the end of the year, which is one of the reasons for the general buying and selling atmosphere in the molybdenum market; secondly, the current molybdenum price is relatively high compared to the end of November 2021, and downstream users are also cautious. Compared with the end of November 2021, the current price of molybdenum concentrate is about 410 yuan/ton higher, ferromolybdenum is about 24,000 yuan/ton higher, and ammonium heptamolybdate is about 18,000 yuan/ton higher.

In the news: Customs data shows that China exported 61.875 million tons of steel products from January to November 2021, a year-on-year increase of 26.7%. In the same period, the cumulative imported steel products were 13.267 million tons, a year-on-year decrease of 29.6%; the cumulative imported steel billets were 12.549 million tons, a year-on-year decrease of 28.2%.

Prices of molybdenum products on January 5, 2022

China molybdenum price image

Picture of ferro molybdenum

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