Molybdenum News Center

China Molybdenum Price - April 8, 2022

China molybdenum price continued to rise in the week ended on Friday, April 08, 2022 mainly due to the generally high bullish sentiment of suppliers who are reluctant to sell, the active steel tender market, the rise in transaction volume and price. 

Most industry players are optimistic about the market outlook. Currently, the prices of molybdenum concentrate and ferromolybdenum have risen to around RMB 2,770/ton and RMB 185,000/ton respectively.

From the perspective of supply, due to the impact of the Spring Festival holiday and the Winter Olympics in the early stage, the production capacity of many molybdenum manufacturers was limited. In addition, the downstream demand was acceptable, and the spot inventory of molybdenum raw materials was even less. In this context, recently, the epidemic situation and rainy weather in Jilin, Henan and other places have been intensified, which once again led to limited production of some molybdenum production enterprises, slow logistics and transportation, and a shortage of spot supply in the market.

From the perspective of demand, in the first week after the Qingming Festival, many consumers themselves are willing to enter the market for inquiries and purchases. In addition, stimulated by the tense atmosphere of the spot supply of molybdenum raw materials, the enthusiasm of downstream users to purchase is even more increased, so as to ensure that the company will continue to can operate normally.

In terms of news: In late March 2022, key statistics iron and steel enterprises produced a total of 23.7611 million tons of crude steel, 20.4451 million tons of pig iron, and 23.2833 million tons of steel. Among them, the daily output of crude steel was 2.1601 million tons, an increase of 5.41% from the previous month; the daily output of pig iron was 1.8586 million tons, an increase of 3.47% from the previous month; the daily output of steel was 2.1167 million tons, an increase of 5.18% from the previous month.

Prices of molybdenum products on April 8, 2022

Picture of molybdenum crucible

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