China Molybdenum Price - August 5, 2022

molybdenum rod photo China molybdenum price was in the downward trend in the week ended on Friday, August 05, 2022. With the gradual increase of negative factors, the buyer's market has a greater advantage, which is mainly reflected in the lack of confidence in suppliers to stabilize prices, slow growth in orders and most industry players are bearish on the market outlook. 

According to Chinatungsten Online, the prices of molybdenum concentrate, ferromolybdenum, molybdenum oxide and molybdenum powder dropped by about RMB 160/ton, RMB 11,000/ton, RMB 150/ton and RMB 10/kg respectively this week.

From the perspective of the supply side, although the output of many domestic molybdenum manufacturers has been reduced due to the frequent high temperature and rainstorms, the increase in natural disasters and the unabated efforts to combat environmental protection, it is still difficult to offset the inflow of a large number of lower-priced international molybdenum raw materials into the domestic market. The damage caused by the market has resulted in a looser spot supply in the market.

From the perspective of demand, in the traditional off-season of consumption, many steel companies face a greater risk of cost-benefit inversion. In order to avoid the risk of inversion, steel mills generally have a high price reduction sentiment and maintain rational consumption. In addition, the current market is relatively in the downturn, most buyers have lower consumption desires.

In terms of news: data from the China Iron and Steel Association shows that in late July 2022, key statistics iron and steel enterprises produced a total of 20.792 million tons of crude steel, 19.3019 million tons of pig iron and 20.7681 million tons of steel. Among them, the daily output of crude steel was 1.8902 million tons, down 7.25% from the previous month; the daily output of pig iron was 1.7547 million tons, down 7.72% from the previous month; the daily output of steel was 1.888 million tons, down 5.35% from the previous month. As of the end of July, the steel inventory of key iron and steel enterprises was 16.5966 million tons, a decrease of 12.79% compared with the same period of last month, a decrease of 2.08% compared with the same period of last month, an increase of 46.91% compared with the beginning of the year, and an increase of 20.15% compared with the same period last year.

Prices of molybdenum products on August 5, 2022

China molybdenum price photo

Picture of molybdenum rod 

molybdenum rod photo

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