China Molybdenum Concentrate Price - October 28, 2020

Molybdenum market quotation in China: molybdenum concentrate price is about 1,400 yuan/ton, molybdenum oxide price is about 1,480 yuan/ton, and ferromolybdenum price is below 97,000 yuan/ton. 

There has been no significant change in the molybdenum concentrate market for the time being. Although downstream ferromolybdenum manufacturers are not in a high mood for replenishment, under the influence of the increasingly active atmosphere in the international molybdenum market, molybdenum mining companies have basically maintained firm quotations and are not willing to cut profit.

In the ferromolybdenum market, under the contradiction between low volume of tenders and relatively high price of molybdenum concentrates, intermediate smelting companies face a greater risk of cost inversion. However, considering the issue of profit, most hold Sellers are reluctant to sell at a low price.

In the molybdenum chemical industry and its products market, there is a strong wait-and-see atmosphere in the market. In addition to weak terminal demand, which is the reason for the difficulty in increasing the market transaction heat, the insufficient strength of the upstream molybdenum raw material market is also a factor that hinders the update of traders' quotations.

In September 2020, the global crude steel output of the 64 countries included in the World Steel Association statistics was 156.4 million tons, an increase of 2.9% year-on-year; from January to September 2020, the global crude steel output was 1.347.4 billion tons, a decrease of 3.2% from the same period last year. Among them, the crude steel output in the subspecies region was 100.1 million tons, an increase of 20 million tons year-on-year; the crude steel output in the EU region was 99.4 million tons, a decrease of 17.9%; the crude steel output in the CIS region was 74.3 million tons, a year-on-year decrease of 2.5% ; Crude steel production in North America was 77.4 million tons, a year-on-year decrease of 18.2%.

Prices of molybdenum products on October 28, 2020

Picture of molybdenum bar 

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