Molybdenum News Center

China Molybdenum Market - Feb. 8, 2022

China molybdenum market is relatively calm on February 8, 2022 after the holiday of Chinese Lunar New Year because many upstream and downstream enterprises in the industrial chain have not yet fully resumed normal operation.

From the perspective of supply, in addition to the fact that some molybdenum production enterprises have not resumed work in time just after the Spring Festival holiday, which is the reason why the current supply of molybdenum raw materials is difficult to increase. The Winter Olympics are being held, and the strengthening of environmental protection supervision is also hindering some molybdenum raw materials to release; from the demand side, affected by the large amount of purchases before the Spring Festival, the overall willingness of steel enterprises to enter the market for bidding for ferromolybdenum is generally average.

In terms of news: in late January, the social inventory of 5 major types of steel in 21 cities was 9.63 million tons, an increase of 10.2% month-on-month, and the inventory continued to rebound rapidly; an increase of 1.75 million tons or 22.2% over the beginning of the year; down 4.5%. In terms of regions, South China increased by 290,000 tons, up 11.9%; East China increased by 170,000 tons, up 8.4%; Central China and North China both increased by 110,000 tons, up 12.0%; Southwest China increased by 90,000 tons, up 6.3%, and Northwest China An increase of 80,000 tons, an increase of 13.3%; Northeast increased by 40,000 tons, an increase of 10.0%.

Prices of molybdenum products on Feb. 8, 2022

Picture of molybdenum crucible 

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