Molybdenum News Center

Ammonium Heptamolybdate Price - Feb. 16, 2022

China’s domestic molybdenum market continues to be strong on February 18, 2022. The transaction prices of molybdenum concentrate and ferro molybdenum have reached RMB 2,500/ton and RMB 170,000/ton, respectively.

Affected by the difficulty in increasing the spot inventory of molybdenum raw materials and the high enthusiasm for making up positions in the downstream market, traders are generally reluctant to sell and have rising sentiment. The industry had great expectations for a better market outlook. 

In the molybdenum concentrate market, both the transaction volume and price have risen, mainly due to the difficulty in releasing the production capacity of molybdenum mining enterprises, the increase in demand from ferromolybdenum merchants and the obstruction of logistics and transportation. According to Chinatungsten Online, factors such as tight energy supply, extreme weather and environmental protection pressures have led to a reduction in the output of molybdenum companies; the spread of the epidemic in Huludao, Qingdao province has increased traffic resistance.

In the ferromolybdenum market, the fundamentals are relatively optimistic. In addition to the fact that the price of steel is acceptable, which has a great supporting role in the increase of market popularity, the holding of the Winter Olympics, the strong environmental protection control and the escalation of the epidemic in some areas have led to some intermediate Suspension of production and production reduction by smelting enterprises is also the main reason for the insufficient supply of ferromolybdenum.

In the molybdenum chemical industry and its products market, the overall bullish atmosphere is strong. With the rise in the price of molybdenum raw materials, the quotations of suppliers have been raised. The current prices of molybdenum powder and ammonium heptamolybdate are about 315 yuan/kg and 165,000 yuan/ton respectively. However, the poor performance of the international molybdenum market and the general demand from end customers are not conducive to the sharp rise in the domestic molybdenum market.

In terms of news: data from the National Bureau of Statistics shows that in 2021, the ferrous metal smelting and rolling processing industry will achieve operating income of 9,666.23 billion yuan, a year-on-year increase of 32.2%; operating costs will be 8,849.81 billion yuan, a year-on-year increase of 31.0%; The total profit is 424.09 billion yuan, an increase of 75.5% year-on-year. 

Prices of molybdenum products on Feb. 16, 2022

Picture of molybdenum crucible 

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