China Molybdenum Price - May 7, 2022

molybdenum rod photo China molybdenum price was in a dilemma in the first trading week after the holiday of May Day as traders remained low enthusiasm under both weak demand and supply.

From the perspective of the supply side, in addition to the large amount of molybdenum raw materials shipped by the stockholders in the early stage, which is the reason for the tight spot supply in the market recently, the arrival of the May Day holiday and some molybdenum manufacturers in the epidemic areas have not yet fully resumed normal production. They are also factors that lead to the slow growth of molybdenum raw material inventories. 

From the demand side, since some steel mills postponed the purchase time in April, the enthusiasm of steel companies to enter the market has increased recently. In addition, the May Day holiday has just ended, and market inquiries have increased.

In terms of news: in late April, the social inventory of 5 major types of steel products in 21 cities was 12.7 million tons, down 4.8% month-on-month; an increase of 4.82 million tons compared with the beginning of the year; a year-on-year decrease of 3.3%. In terms of regions, Central China decreased by 16.1% month-on-month, North China decreased by 8.5%, Northwest China decreased by 6.1%, East China decreased by 1.8%, South China decreased by 1.7%, Northeast decreased by 3.5%, Southwest decreased by 1.7%

Prices of molybdenum products on May 7, 2022

China molybdenum price photo

Picture of molybdenum rod 

molybdenum rod photo

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