Ferro Molybdenum Price - April 8, 2021

ferro molybdenum image Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ferro molybdenum prices remain stable on April 8, 2021. After the holiday of Tomb-Sweeping Day, market trading seems active and some deals are concluded. 

In the molybdenum concentrate market, orders have grown rapidly. With the increasing enthusiasm of downstream ferro-molybdenum merchants in purchasing, molybdenum mining companies are willing to cut product prices for sales. The current transaction price is around RMB 1,660 per ton.

In the ferromolybdenum market, the overall trading enthusiasm is relatively high. At the beginning of the month, in addition to the centralized bidding of steel companies, the bidding price is considerable, which is the main reason for the increase in the willingness of the holders to ship and the confidence in the price. In the short term, market price may continue its stability. 

In the molybdenum chemical and its products market, the supply and demand are relatively balanced, and the end customers basically rely on order-to-order purchases. However, supported by the rising costs and upstream market conditions, suppliers are less willing to sell at lower prices.

In late March, the key statistical iron and steel enterprises produced a total of 24,311,900 tons of crude steel, 21,025,100 tons of pig iron, and 24,417,400 tons of steel. The average daily crude steel output of key steel enterprises in the current period was 2.2102 million tons, a decrease of 3,400 tons from the previous month, a decrease of 0.16%, and a year-on-year increase of 20.98%. 

In late March 2021, the steel inventory of key steel enterprises was 14.706800 tons, a decrease of 2.802 million tons from the previous month, a decrease of 16%; a decrease of 1.704 million tons from the end of the previous month, a decrease of 10.38%; an increase of 3.0857 million tons from the beginning of the year, an increase of 26.55%; A year-on-year decrease of 3.3598 million tons, a decrease of 18.60%.

Prices of molybdenum products on April 8, 2021

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Picture of ferro molybdenum

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