Molybdenum Concentrate Price - March 2, 2022

ferro molybdenum image China molybdenum market remains stable and strong on March 2, 2022. Affected by factors such as the difficulty in increasing the spot supply of molybdenum raw materials, the increase in downstream inquiries, the rebound in international molybdenum prices, and the surge in commodity prices, manufacturers generally have strong rised mentality, so market price is not likely to decline in the short term.

In the molybdenum concentrate market, the market has improved slightly. In addition to the general production speed of molybdenum mining enterprises and the increase of inquiries from ferromolybdenum merchants, which have a positive effect on the improvement of market confidence. The tense situation in Russia and Ukraine has prompted crude oil, agricultural products, metals and other bulk commodities. The rise in commodity prices increases the production cost of molybdenum products to a certain extent, which in turn forces suppliers to increase their awareness of price support.

In the ferro molybdenum market, the atmosphere of on-site buying and selling is getting better. In the context of the difficulty in purchasing low-priced molybdenum concentrate, in early March, steel companies successively entered the market for bidding and the bidding price was acceptable, which to a large extent supported the stability of intermediate smelting enterprises. 

In the market of molybdenum chemical industry and its products, the overall wait-and-see atmosphere is strong, and the transaction is slightly stalemate, mainly due to the support of raw material prices, most suppliers are less willing to make profits, and end customers are mostly just purchasing.

In terms of news: According to the website of the National Bureau of Statistics, in February, China's comprehensive purchasing managers' index (PMI) output index was 51.2%, an increase of 0.2 percentage points from the previous month, indicating that the overall expansion of production and operation activities of Chinese enterprises has accelerated. In February, China's manufacturing purchasing managers' index was 50.2%, up 0.1 percentage points from the previous month, and remained above 50% for four consecutive months, indicating that the economic operation continued to remain stable; in the same period, the non-manufacturing business activity index was 51.6%, up 0.5 from the previous month. percentage points, higher than the critical point, and the overall recovery pace of non-manufacturing industries has accelerated.

Prices of molybdenum products on March 2, 2022

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Picture of ferro molybdenum

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