Molybdenum News Center

China Molybdenum Price - May 20, 2022

China molybdenum price was in the downward trend in the week ended on Friday, May 20, 2022. 

Under the intertwining of negative and positive factors, the upstream and downstream enterprises in the industrial chain became cautious in entering the market than last week, which led to fewer transactions. However, there are still suppliers willing to maintain firm quotations, supported by production costs and the lack of spot inventories in the market.

In the molybdenum concentrate market, most of the ferromolybdenum merchants are just in need of replenishment, while the suppliers have slightly different attitudes. In order to obtain more orders, the price is rationally reduced, and the current price is about $421.5/mtu. 

In the ferromolybdenum market, the high activity in the field is mainly due to the gradual resumption of production by industrial enterprises in the epidemic area, prompting steel companies to enter the market one after another to bid for ferromolybdenum. However, due to the strong sentiment of steel companies to reduce prices, intermediate smelting companies still face a greater risk of inversion.

In the molybdenum chemical industry and its products market, the fundamentals of supply and demand have not changed significantly, and end customers are basically purchasing on demand. However, due to the lack of spot inventory in the market, suppliers have limited profit margins. Previously, ammonium heptamolybdate and molybdenum powder were respectively firm at around 182,000 yuan/ton and 350 yuan/kg.

In terms of news: The latest data from the National Bureau of Statistics shows that from January to April 2022, the cumulative output of steel bars, medium-thick and wide steel strips and wire rods (wire rods) in China was 75.828 million tons, 61.419 million tons and 12.435 million tons, respectively, down year-on-year. 13.6%, up 0.2% and down 15.9%. Among them, the output of steel bars, medium-thick and wide steel strips and wire rods (wire rods) in April were 20.55 million tons, 16.549 million tons and 12.435 million tons respectively, a year-on-year decrease of 14.1%, an increase of 2.2% and a decrease of 13.0% respectively.

Prices of molybdenum products on May 20, 2022

Picture of molybdenum disulfide grease

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