Molybdenum News Center

China Molybdenum Price - May 27, 2022

China molybdenum price was in the downward trend in the week ended on Friday, May 27, 2022. Under the gradual increase of negative factors, traders' sentiments on entering the market are relatively complicated, mainly reflected in the confusion of suppliers' quotations, the low enthusiasm of buyers to receive goods, and the lack of confidence in the market outlook.

However, there are still some molybdenum suppliers willing to maintain firm quotations, supported by the slow growth of production costs and molybdenum raw material spot inventories.

According to Chinatungsten Online, the negative factors include: first, although there are still steel companies willing to bid for ferromolybdenum, it is still difficult to offset the damage caused by the poor steel market to the molybdenum market. This week, the price of molybdenum concentrate fell below 2,700 yuan/ton, and the price of ferromolybdenum also dropped from 177,000 yuan/ton to about 171,000 yuan/ton. Second, due to the continuous spread of the global new crown epidemic, the attack of monkeypox virus, and the devaluation of the RMB Influenced by factors such as high peripheral geo-risks and other factors, the global macroeconomic expectations are not optimistic, which greatly reduces the confidence of molybdenum suppliers to stabilize prices and their downstream demand.

In news: World Steel Association data show that global crude steel production in April 2022 was 162.7 million tons, a year-on-year decrease of 5.1%. Among them, China's crude steel output was 92.8 million tons, down 5.2% year-on-year; India was 10.1 million tons, up 6.2% year-on-year; Japan was 7.5 million tons, down 4.4% year-on-year; the United States was 6.9 million tons, down 3.9% year-on-year.

Prices of molybdenum products on May 27, 2022

Picture of molybdenum concentrate 

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