Ferro Molybdenum Price - October 10, 2022

TZC mandrel image Molybdenum market quotation in China: ammonium molybdate and ammonium heptamolvbdate prices are unchanged from the previous trading day while ferro molybdenum price rises to RMB 197,000.00/ton on October 10, 2022. 

Supported by the willingness of many steel companies to enter the market to bid for ferromolybdenum and the tender price is acceptable, the sentiment of suppliers has basically changed from wait-and-see to bullish. The price increase is small. 

In terms of news: data from the China Iron and Steel Association shows that from January to August 2022, the country exported 46.225 million tons of steel, a year-on-year decrease of 3.9%; the export of billets was 889,000 tons, an increase of 885,000 tons compared with the same period last year; equivalent to a net export of 36.146 million tons of crude steel, The year-on-year increase was 3.936 million tons; the imported steel was 7.453 million tons, a year-on-year decrease of 21.2%; the imported billet was 4.829 million tons, a year-on-year decrease of 38.9%. Among them, the export volume of steel in August was 6.153 million tons, a decrease of 518,000 tons from the previous month.

Prices of molybdenum products on October 10, 2022

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