Molybdenum Powder Price - May 6, 2021

molybdenum powder image Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and molybdenum oxide prices continue to stabilize in the first trading day after the holiday of Labour Day as most participants mainly take watchful stance. 

Affected by the approaching month-change and tariff adjustments on steel products, steel companies before May 1 intensively entered the market for bidding, which resulted in low stocks of molybdenum mining companies and a strong sense of reluctance to sell them. It is worth noting that in April, the number of steel tenders for ferro molybdenum exceeded expectations.

The “Announcement on Adjusting Tariffs on Certain Steel Products” of the State Council’s Tariff Commission stated that in order to better protect the supply of steel resources and promote the high-quality development of the steel industry, with the approval of the State Council, the State Council’s Tariff Commission issued an announcement starting May 1, 2021 to adjust tariffs on some steel products. Among them, the zero import tariff rate for pig iron, crude steel, recycled steel raw materials, ferrochrome and other products is implemented; the export tariffs for ferrosilicon, ferrochrome, high-purity pig iron and other products are appropriately increased, and the export tax rate of 25%, 20% and 15% temporary export tax rate are respectively implemented after adjustment.

Prices of molybdenum products on May 6, 2021

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Picture of molybdenum powder

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