China’s Domestic Molybdenum Market - Feb. 14, 2022

ferro molybdenum image At the beginning of the week, China’s domestic molybdenum market showed signs of improvement. In addition to the impact of the Winter Olympics, the strengthening of environmental protection control was the main reason for the production restrictions of some intermediate smelting enterprises. 

The epidemic situation in some areas such as Liaoning Province was slightly tense, which is another reason for the difficulty for ferromolybdenum merchants to release the production capacity. The decline in ferro-molybdenum production has driven the whole molybdenum market to be reluctant to sell and explore rising sentiment. Therefore, in the short term, the industry is generally optimistic about the market outlook. However, the poor performance of the international molybdenum market will increase the resistance of the domestic molybdenum market to a certain extent.

In terms of news: In late January 2022, key statistics iron and steel enterprises produced a total of 22.1496 million tons of crude steel, 19.1986 million tons of pig iron, and 21.2995 million tons of steel. Among them, the daily output of crude steel was 2,013,600 tons, up 1.32% month-on-month; the daily output of pig iron was 1,745,300 tons, down 0.35% month-on-month; the daily output of steel was 1,936,300 tons, up 0.92% month-on-month.

Prices of molybdenum products on Feb. 14, 2022

China’s domestic molybdenum price image

Picture of ferro molybdenum

ferro molybdenum image

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