Molybdenum News Center

Molybdenum Oxide Price - November 1, 2022

Molybdenum market quotation in China: ferro molybdenum, molybdenum oxide and powder prices continue to decline in the first trading day in November, 2022 with the gradual reduction in positive factors.

From the perspective of positive factors, firstly, due to the general release of molybdenum mining companies’ production capacity and the relatively small import volume of molybdenum raw materials, the current spot inventory in the market is still at a low level; secondly, when it is currently in the traditional peak consumption season, downstream users enter the market to inquire The willingness to purchase is relatively high.

From the point of view of negative factors, the first is the fall in international molybdenum prices, the rising sentiment of steel companies to reduce prices and the poor global trade environment, all of which have greatly affected the confidence of holders to support prices; second, since August, molybdenum has The price fluctuated and rose, and the increase was relatively large, resulting in a general decline in the purchasing power of buyers.

In terms of news: data from China Iron and Steel Association shows that from January to September 2022, the cumulative production of medium and heavy plate rolling mills was 52.93 million tons, a year-on-year increase of 1.7%; the production of hot tandem rolling mills was 140.53 million tons, a year-on-year decrease of 2.7%; 56.65 million tons, a year-on-year decrease of 2.6%. Among them, the medium and heavy plate rolling mill produced 5.97 million tons in September, up 25.3% year-on-year; the hot tandem rolling mill produced 14.99 million tons, up 4.8% year-on-year; the cold tandem rolling mill produced 5.89 million tons, down 2.8% year-on-year.

Prices of molybdenum products on November 1, 2022

Picture of molybdenum electrode 

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