Ferro Molybdenum Price - March 11, 2022

molybdenum bar image Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and oxide prices increased in the week ended on Friday, March 11, 2022. Affected by factors such as low stock of raw materials, increasing demand, rising international molybdenum prices and rising commodity prices, suppliers are generally optimistic. 

In the molybdenum concentrate market, supply is generally in short supply. In addition to the severe epidemic situation in Jilin and other regions, which has led to restrictions on some molybdenum manufacturers, some molybdenum mining companies have recently performed maintenance tasks one after another, which is also one of the reasons for reducing the production of molybdenum concentrates. Coupled with the increase in downstream inquiries, the bullish sentiment of holders of reluctance to sell became stronger, and the transaction price exceeded 2,600 yuan/tonne.

In the ferromolybdenum market, the market is soaring, low-priced raw materials are difficult to obtain, both the volume and price of steel bids have risen, and stimulated by the rising prices of auxiliary materials such as nickel and vanadium, ferro molybdenum merchants have strong confidence in their quotations, and the current steel bid price is 176,000 yuan/ton.

In the market of molybdenum chemical industry and its products, there is a strong wait-and-see atmosphere. Although the price of molybdenum chemical products has also risen due to the rise in domestic and foreign raw material prices, the demand from end customers is not as expected, resulting in few new orders.

In terms of news: Customs data shows that my country exported 8.234 million tons of steel from January to February, a year-on-year decrease of 18.8%. From January to February, imported iron ore was 181 million tons, basically the same as the same period last year. The average import price was 666.9 yuan per ton, down 36%; imported coal was 35.391 million tons, down 14% year-on-year; imported steel was 2.207 million tons, down 7.9% year-on-year. 

Prices of molybdenum products on March 11, 2022

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Picture of molybdenum bar 

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