Molybdenum News Center

China Molybdenum Price - August 19, 2022

This week, China molybdenum price fell slightly on the whole, mainly reflected on the price of molybdenum chemical products generally moved down, the actual transaction was limited, and the industry's concerns about the market outlook increased.

In the molybdenum concentrate market, the transaction volume and price are average. Although most suppliers are not confident in raising prices due to the decrease in downstream demand and the decline in international molybdenum prices, the continuous high temperature in summer has led to shortage of electricity in many places, which in turn affects molybdenum manufacturers. The production capacity is released, so it is beneficial for the holder to make a firm offer.

In the ferromolybdenum market, the price of products is around 165,000 yuan/ton. Shanxi, Sichuan, Hubei, Chongqing, Jiangsu and other places have successively issued power curtailment notices, which is the main reason for the increase in production shutdown and maintenance of steel plants, which in turn reduces the market's demand for ferromolybdenum. , but supported by the low price of raw materials and the low spot inventory of ferromolybdenum, the willingness of intermediate smelters to cut prices to sell is low.

In the market of molybdenum chemical industry and its products, the overall stalemate is on the sidelines. The price of products is mainly affected by the relationship between supply and demand. In the case of end customers maintaining just-in-demand purchases, with the decline in the price of molybdenum raw materials, the quotations of molybdenum chemical companies have also been lowered. Ammonium tetramolybdate dropped to around RMB 160,000/t.

In terms of news: data from the China Iron and Steel Association shows that in early August 2022, key statistics iron and steel enterprises produced a total of 19.4331 million tons of crude steel, 17.8997 million tons of pig iron, and 19.4256 million tons of steel. Among them, the daily output of crude steel was 1,943,300 tons, an increase of 2.81% month-on-month; the daily output of pig iron was 1,790,000 tons, a month-on-month increase of 2.01%; the daily output of steel was 1,942,600 tons, a month-on-month increase of 2.89%.

Prices of molybdenum products on August 19, 2022

Picture of molybdenum boat 

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