Molybdenum Powder Price - February 9, 2022

molybdenum powder image Molybdenum market quotation in China: ferro molybdenum price edges higher while concentrate and molybdenum powder prices remain firm and stable on February 9, 2022. 

Chinese Spring Festival holiday has just ended, and many traders are still in a wait-and-see state, but due to the continuous tight supply of ferromolybdenum, the bullish sentiment of the holders is generally strong.

The molybdenum concentrate market is generally in a state of weak balance between supply and demand. The main reasons for the lack of spot molybdenum concentrates are most molybdenum mining companies have not resumed work in time and a large number of molybdenum concentrates have been shipped before the Spring Festival; and downstream users are restrained from consumption. The factors of desire are that suppliers are reluctant to sell at a higher price and some ferromolybdenum merchants still have a certain amount of inventory.

In the ferromolybdenum market, the fundamentals are relatively optimistic. The holding of the Winter Olympics has restricted the production of many intermediate smelting enterprises, and the supply of ferromolybdenum is difficult to increase, which has prompted the merchants to raise their quotations slightly. In addition, there are still steel companies willing to enter the market to bid for ferromolybdenum, but also to a large extent to increase market activity.

In the market of molybdenum chemical industry and its products, the transactions were average. Affected by the strong bullish sentiment in the upstream market, the willingness of suppliers to cut prices to sell is basically low, and the end customers are mostly just purchasing.

In terms of news: China IOT Steel Logistics Professional Committee stated that in January 2022, the domestic steel PMI index was 47.5%, an increase of 8.8 percentage points from the previous month, and the steel market boom has rebounded.

Prices of molybdenum products on Feb. 9, 2022

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Picture of molybdenum powder

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