Molybdenum News Center

Ferro Molybdenum Price - April 15, 2022

China’s domestic molybdenum price increased on the whole in the week ended on Friday April 15, 2022. At the beginning of the week, supported by the tight supply of molybdenum raw materials and the healthy demand for steel recruitment, the prices of many molybdenum products jumped. 

Molybdenum concentrate price rose by 3.18% to about $471.0/mtu; ferro molybdenum price rose 2.67% to around $30,967.7/ton. However, due to the high price of molybdenum raw materials and the weakened enthusiasm of downstream users to receive goods near the weekend, the price of molybdenum was hindered from rising again.

In the molybdenum concentrate market, the fundamentals of supply and demand are relatively optimistic. Under the background that the price of molybdenum raw materials has repeatedly hit new highs and the market demand is acceptable, the holders of the molybdenum concentrate are generally willing to take profits, so the order growth rate is fast.

In the ferromolybdenum market, the atmosphere of buying and selling in the market is active, upstream merchants are willing to ship and steel companies are willing to enter the market to bid for ferromolybdenum, which has greatly boosted the confidence of intermediate smelting enterprises in their quotations. Although the prices of molybdenum chemical products such as sodium molybdate, ammonium molybdate and molybdenum powder have been raised with the sharp rise in the price of raw materials, the demand from end customers has eased, resulting in lower-than-expected transactions.

In terms of news: in the first ten days of April, the social inventory of 5 major types of steel products in 21 cities was 13.56 million tons, down 1.1% month-on-month and 13.1% year-on-year; an increase of 5.68 million tons or 72.1% over the beginning of the year. In terms of regions, Southwest China decreased by 8.0% month-on-month, South China decreased by 5.0%, North China decreased by 3.1%, Northeast China increased by 9.4%, East China increased by 1.8%, Central China increased by 2.0%, and Northwest China increased by 1.7%.

Prices of molybdenum products on April 15, 2022

Picture of ferromolybdenum powder

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