Molybdenum News Center

China’s Domestic Molybdenum Price - January 21, 2022

China’s domestic molybdenum price remains stable on the whole in the week ended on Friday January 21, 2022. With the gradual increase in the atmosphere of the Spring Festival, the operating sentiment of traders has cooled compared with last week, which in turn led to the weak price rise of most molybdenum products. 

From the perspective of the supply side, first, the end of the year and the Winter Olympics are approaching, and the efforts to crack down on environmental protection have increased, causing some molybdenum mining companies to enter the maintenance state in advance, so the production of molybdenum concentrate has been reduced, which is conducive to quotation; second, the recent increase in international molybdenum prices, It is not conducive to the increase in the import of molybdenum raw materials in my country; third, due to the continuous spread of the epidemic in many places, there are many market uncertainties, which will inhibit the increase in the supply of molybdenum raw materials to a certain extent.

From the demand side, one is that many downstream users have completed their procurement plans last week due to concerns about the obstruction of logistics and transportation, so the overall demand has been low in recent days; the other is that the flow of funds is not smooth, and buyers are more cautious in their consumption.

News: Automobile is one of the major steel-using industries. According to the statistics of the China Association of Automobile Manufacturers, in 2021, my country's automobile production and sales will complete 26.082 million and 26.275 million vehicles respectively, a year-on-year increase of 3.4% and 3.8% respectively, ending the downward trend for three consecutive years. Vehicle exports reached 2.015 million units, doubling year-on-year. At the same time, the sales of new energy vehicles reached 3.521 million units, a year-on-year increase of 1.6 times, ranking first in the world for seven consecutive years.

Prices of molybdenum products on January 21, 2022

Picture of molybdenum plate 

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