Ammonium Molybdate Price- August 17, 2022

black TZM rod photo Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices decline slightly on August 17, 2022. Under the gradual weakening of favorable factors, the price game between buyers and sellers is more intense, and mutual benefit is not allowed, so the growth rate of orders decreases and the market outlook is uncertain.

In the molybdenum concentrate market, the focus of bulk cargo transactions has shifted down, mainly due to the decrease in demand from downstream users and the fall in international molybdenum prices. The cooling down of the molybdenum market has largely affected the confidence of intermediate smelters to raise prices. However, the price of ferro-molybdenum is temporarily stable at around RMB 165,000/ton due to the amount of steel recruiting. The stalemate and wait-and-see atmosphere are strong, the rigid demand situation of end customers is difficult to change and the upstream market activity has weakened, resulting in rational reduction of molybdenum chemical companies' quotations in exchange for more orders.

In terms of news: data from the National Bureau of Statistics shows that in July 2022, the added value of industries above designated size nationwide increased by 3.8% year-on-year, a decrease of 0.1 percentage points from the previous month, and a month-on-month increase of 0.38%. In terms of three categories, the added value of the mining industry increased by 8.1% year-on-year; the manufacturing industry increased by 2.7%; and the production and supply of electricity, heat, gas and water increased by 9.5%. In terms of products, the output of green smart products such as new energy vehicles and solar cells increased by 112.7% and 33.9% year-on-year respectively.

Prices of molybdenum products on August 17, 2022

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