Molybdenum News Center

Sodium Molybdate Price - March 23, 2022

China’s ferro molybdenum, sodium molybdate and ammonium molybdate prices keep strong on March 23, 2022. The low spot inventory of molybdenum concentrate, stable downstream demand and high commodity prices have supported the strong quotation of the holders to a large extent.

From the perspective of the supply side, first, due to the repeated epidemics and frequent rainy weather in many places such as Jilin, some molybdenum mining enterprises were forced to reduce production and suspend production, resulting in a slow growth rate of the spot inventory of molybdenum concentrate, plus the concentrated shipments, now the supply of raw materials is even more limited; second, as one of the major countries in the world's molybdenum production, the export of Russian molybdenum products is blocked, and the international logistics and transportation are sluggish, which will more or less affect the import of molybdenum raw materials in China.

From the perspective of demand, first, steel companies are willing to enter the market to bid for ferromolybdenum and the bidding price is acceptable, which has played a positive role in increasing market activity, but it should be noted that the limit of nickel has caused a certain impact on the stainless steel market; second, the situation that the Russian-Ukrainian conflict and the global epidemic have not yet ended. Although the production of molybdenum downstream production enterprises is limited and the consumption of molybdenum has been reduced to a certain extent, some overseas countries have shifted their demand to my country, which is conducive to the stable operation of the domestic molybdenum market.

In terms of news: From January to February 2022, my country's steel bar production was 34.818 million tons, down 13.8% year-on-year; medium-thick and wide steel strip production was 28.502 million tons, down 3.3% year-on-year; wire rod (wire rod) production was 21.307 million tons, A year-on-year decrease of 16.7%; cold-rolled sheet output was 6.316 million tons, a year-on-year decrease of 0.1%; iron ore raw ore output was 155.757 million tons, a year-on-year increase of 7.5%.

Prices of molybdenum products on March 23, 2022

Picture of molybdenum disulfide

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