Molybdenum News Center

China Molybdenum Price - June 17, 2022

China molybdenum price was in the upward trend in the week ended on Friday June 17, 2022, which is mainly reflected in the generally high sentiment of traders entering the market and the increase in transaction volume. 

However, affected by the sharp rise in molybdenum prices, downstream users have also increased their fear of heights and have certain concerns about the market outlook.

From the perspective of the supply side, first, due to the recent heavy rainfall, the increase in natural disasters such as floods and mudslides has not only reduced the mining rate of some molybdenum mining companies, but also increased traffic resistance, resulting in downstream users failing to receive timely services. Therefore, the holders are reluctant to sell and have a high bullish sentiment. Second, under the circumstance that the production of domestic molybdenum manufacturers is restricted, the increase in market demand and the small import of overseas mines are also the main reasons for the relatively tight spot supply in the current molybdenum market.

From the perspective of demand, first, since the unblocking of Shanghai, most steel companies have increased their willingness to bid for ferromolybdenum and their bidding prices have increased, which has largely driven the enthusiasm of ferromolybdenum merchants and end customers to enter the market for inquiries and purchases. Therefore, the market The growth rate of orders is acceptable; second, due to the limited liquidity and the high risk of stagflation in the global economy, some buyers are still slightly cautious in their consumption.

In terms of news: China Iron and Steel Association data show that in early June 2022, key statistics iron and steel enterprises produced a total of 22.8865 million tons of crude steel, 20.5217 million tons of pig iron, and 21.7196 million tons of steel. Among them, the daily output of crude steel was 2,288,600 tons, down 1.32% from the previous month; the daily output of pig iron was 2,052,200 tons, up 0.27% from the previous month; the daily output of steel was 2,172,000 tons, down 4.16% from the previous month.

Prices of molybdenum products on June 17, 2022

Picture of molybdenum sheet 

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