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Ferro Molybdenum Price - Sep. 21, 2022

Molybdenum market quotation in China: ferro molybdenum price keeps rising while molybdenum oxide and powder prices remains stable on September 21, 2022. 

Under the relatively active demand and tight spot supply, buyers and sellers in the market are in a stalemate, that is, the sellers are less willing to cut the price and the buyers are reluctant to purchase at high price. The actual transaction prices still have room to increase. 

From the perspective of the supply side, first, when the original inventory of molybdenum raw materials was not large, the National Day was approaching and there were still persistent high temperature weather in many places, which led to the shrinkage of the output of some molybdenum production enterprises, so the spot supply in the market was even tighter; second Affected by the depreciation of the RMB and the current high international molybdenum price, the import volume of domestic molybdenum raw materials is relatively small, which is conducive to suppliers to maintain firm quotations.

From the perspective of demand, first, with the traditional peak consumption season and the National Day holiday approaching, most steel companies are willing to enter the market to bid for ferro-molybdenum, which will lead to a slight increase in the price of ferro-molybdenum; second, molybdenum downstream industries such as high-speed tool steel industry, military industry The good development of the superalloy industry is conducive to the increase in the demand for molybdenum.

In terms of news: data from the National Bureau of Statistics shows that from January to August 2022, the cumulative production of steel bars in China was 155.426 million tons, a year-on-year decrease of 13.8%; the cumulative output of medium-thick and wide steel strips was 125.288 million tons, a year-on-year increase of 1.3%; Article) The cumulative output was 9,590.6 tons, a year-on-year decrease of 12.3%. Among them, the output of steel bars in August was 19.252 million tons, down 5.8% year-on-year; the output of medium-thick and wide steel strips was 14.058 million tons, down 1.8% year-on-year; the output of wire rod (wire rod) was 12.621 million tons, down 0.4% year-on-year.

Prices of molybdenum products on Sep. 21, 2022

Picture of molybdenum sheet 

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