Molybdenum Concentrate Price - June 6, 2022

molybdenum boat photo At the beginning of the week, China’s domestic molybdenum market was still weak, which was mainly reflected in the low enthusiasm of traders, stable prices of molybdenum products, limited new increased orders as well as unclear market outlook. Currently, the prices of molybdenum concentrate and ferromolybdenum are about 2,610 yuan/ton and 168,000 yuan/ton respectively.

According to Chinatungsten Online, the main reasons for the low activity of the molybdenum market are the high sentiment of steel companies to reduce prices, the limited liquidity of downstream users and the poor expectation of global economic growth. However, supported by the production cost and the low spot inventory of molybdenum raw materials, most suppliers are still willing to maintain firm quotations.

In terms of news: China Iron and Steel Association data show that in late May, the social inventory of 5 major types of steel in 21 cities was 12.07 million tons, down 0.1% from the previous month, down 5.0% from late April, up 53.2% from the beginning of the year, and up 7.9% from the same period last year. In terms of different regions, the inventory in Northwest China decreased by 6.2% month-on-month, in Central China by 2.9%, in Northeast China by 1.2%, in East China by 0.3%, in North China by 7.5%, in South China by 0.4%, and in Southwest China.

Prices of molybdenum products on June 6, 2022

molybdenum concentrate price photo

Picture of molybdenum boat 

molybdenum boat photo

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