China Molybdenum Price - March 26, 2021

molybdenum trioxide imagChina molybdenum price maintained stability in the week ended on Friday, March 26, 2021 as both buyers and sellers were not active in entering the market. 

From the perspective of positive factors, first, due to the recent tight environmental protection policies, some molybdenum chemical companies have relatively limited capacity release, which effectively enhances suppliers’ confidence in prices; second, affected by market prices gradually approaching the cost line, some traders increased the awareness of profitability and were not willing to reduce prices. 

From the negative factors, first, the international molybdenum price fell slightly, which will weaken the confidence of domestic traders to firm up the offer; second, the downstream and end customer demand is slightly exhausted and thus some suppliers’ quotations have been adjusted down rationally.

In 2020, China's scrap steel output was 270 million tons, an increase of 4.5% year-on-year; in 2020, the total scrap steel consumption was 230 million tons, an increase of 4.73% year-on-year. In 2020, there are 88 enterprises corresponding to the energy consumption statistics of the member units of the China Iron and Steel Association, and their corresponding steel output is 57,577,900 tons; the total energy consumption is 395,162,400 tons of standard coal. Compared with 2019, steel output corresponding to energy statistics increased by 5.04%, and energy consumption decreased by 1.74%, indicating that the industry has made great progress in energy conservation.

Prices of molybdenum products on March 26, 2021

China molybdenum price image

Picture of molybdenum trioxide 

molybdenum trioxide image

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