Molybdenum News Center

Ammonium Molybdate Price - May 9, 2022

Molybdenum market quotation in China: ferro molybdenum, ammonium molybdate and ammonium heptamolvbdate prices decline slightly at the beginning of the week with rare deals concluded in the market. 

From the perspective of the supply side, affected by factors such as the still tense epidemic situation in some areas and frequent rainy weather, the production of some molybdenum mining enterprises has been restricted to a certain extent. In addition, the external risks are relatively large, and China's molybdenum import market is difficult to heat up, which has even led to slow spot inventory of molybdenum raw materials. 

From the demand side, with the end of the May Day holiday, although the number of steel companies entering the market for bidding for ferromolybdenum has increased, due to the year-on-year or decline in crude steel output this year and the current steel industry is in a traditional off-season As a result, the quantity and price of ferromolybdenum tendered by steel mills are still lower than expected, which in turn leads to a general demand in the entire molybdenum market.

In terms of news: In late April 2022, key statistics iron and steel enterprises produced a total of 23.5867 million tons of crude steel, 20.4127 million tons of pig iron, and 22.9347 million tons of steel. Among them, the daily output of crude steel was 2,358,700 tons, an increase of 5.50% from the previous month; the daily output of pig iron was 2,041,300 tons, an increase of 4.35% from the previous month; the daily output of steel was 2,293,500 tons, an increase of 6.43% from the previous month.

Prices of molybdenum products on May 9, 2022

Picture of molybdenum powder

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