China Molybdenum Price - October 8, 2022

molybdenum boat image China molybdenum price keeps quiet on October 8, 2022 in the first trading day after the holiday of National Day holiday. 

Due to the first day after the return of the National Day holiday, the sentiment of buyers and sellers entering the market has not yet recovered, so the actual trading volume is normal, and the molybdenum price has not been updated yet. However, due to the arrival of the National Day holiday and the upcoming 20th National Congress of the Communist Party of China, the production of many molybdenum manufacturers has been greatly restricted, coupled with the depreciation of the RMB and the still high international molybdenum price, the problem of tight spot supply in the domestic market is even more difficult to solve.

In terms of news: in late September, the social inventory of 5 major types of steel in 21 cities was 8.52 million tons, down 2.3% from the previous month, down 7.3% from late August, up 8.1% from the beginning of the year, and down 21.6% from the same period last year. In terms of regions, inventory in Northeast China decreased by 11.5% month-on-month, in North China, down by 5.6%, in Northwest China by 6.1%, in Southwest China by 1.9%, in Central China by 2.2%, in East China by 0.4%, and in South China.

Prices of molybdenum products on October 8, 2022

China molybdenum price image

Picture of molybdenum boat 

molybdenum boat image

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