Molybdenum News Center

Molybdenum Oxide Price - October 28, 2022

This week, the domestic molybdenum market as a whole showed a pattern of first stabilization and then decline. With the gradual exhaustion of favorable factors, the consumer market gradually shifted from a seller's market to a buyer's market, mainly reflected in the decline in the prices of many molybdenum chemical products and the slow growth of orders. 

According to statistics from Chinatungsten Online, the price of molybdenum concentrate dropped by about RMB 80/mut this week, a drop of about 2.36%; ferromolybdenum dropped by about RMB 6,000/ton, a drop of about 2.65%; molybdenum oxide dropped by about RMB 80/mtu, a drop of about 1.73%.

From the perspective of positive factors, first, the current international molybdenum price is still at a relatively high level and the recent depreciation of the RMB is not conducive to the import of my country's molybdenum raw materials, so it helps the holder to maintain a strong quotation; The quantity is not much, resulting in less spot inventory in the current market, which helps raw material suppliers to support prices.

From the perspective of negative factors, first, although there are still steel companies willing to enter the market to bid for ferromolybdenum, the bidding price is low, coupled with the lower-than-expected demand of end customers, the confidence of raw material suppliers to stabilize prices is even less; second, the international molybdenum market conditions The general and global economic environment is not good, which has prompted many traders to take profits.

News: World Steel Association data show that in September 2022, the steel output of 64 countries or regions included in the statistics was 151.7 million tons, a year-on-year increase of 3.7%. Among them, Africa 1.4 million tons, an increase of 1.0% year-on-year; Asia and Oceania 113 million tons, a year-on-year increase of 10.6%; the European Union (27) 10.7 million tons, a year-on-year decrease of 16.7%; other European countries 3.4 million tons, a year-on-year decrease of 18.6%; Middle East 3.8 million tons, up 15.4% year-on-year; North America 9.1 million tons, down 7.6% year-on-year; South America 3.5 million tons, down 9.6% year-on-year; Russia and other CIS countries + Ukraine produced 6.7 million tons, down 21.9% year-on-year .

Prices of molybdenum products on October 28, 2022

Picture of molybdenum boat 

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