Molybdenum News Center

Molybdenum Powder Price - August 22, 2022

Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and praseodymium neodymium oxide prices keep stable at the beginning of the week when the market is in a stalemate on the whole. 

Under the mutual influence of the low spot inventory of molybdenum raw materials, the weakened demand of downstream users and the high price pressure sentiment, the negotiation agreement between buyers and sellers is not very high, so the transaction is generally normal. Some industry players expect the price of molybdenum to remain in a dilemma in the short term.

According to Chinatungsten Online, the main reason for the low spot inventory in the market is the large amount of molybdenum mining companies shipped in the early stage, and the recent shortage of electricity in many places has restricted the release of production capacity of many molybdenum manufacturers. The main reasons for hindering the increase in downstream demand are that most steel companies still have a large inventory of ferromolybdenum and some steel mills have recently started to stop production for maintenance.

In terms of news: data from the National Bureau of Statistics shows that from January to July 2022, China's crude steel production was 609.28 million tons, down 6.4% year-on-year; pig iron production was 510.9 million tons, down 3.6% year-on-year; steel production was 776.5 million tons, down 4.6% year-on-year . Among them, China's crude steel production in July was 81.43 million tons, down 6.4% year-on-year; pig iron production was 70.49 million tons, down 3.6% year-on-year; steel production was 106.24 million tons, down 5.2% year-on-year.

Prices of molybdenum products on August 22, 2022

Picture of molybdenum boat 

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