China Ferro Molybdenum Price - April 28, 2021

China’s molybdenum concentrate and molybdenum oxide prices edge higher while ferro molybdenum price is unchanged from the previous trading day on April 28, 2021. Now steel mills concentrate to carry out their tenders and suppliers have the confidence to keep firm offers. The short-term market price is not likely to decline.

In the molybdenum concentrate market, the transaction volume and price are acceptable. Downstream demand is strong and molybdenum mining companies have a strong sense of profitability, which are the main reasons for the increase in the market's popularity. The transaction price is mostly around 1,720 yuan/ton. 

The atmosphere in the ferro molybdenum market is good. So far the total amount of steel bids in April has reached 14,000 tons, far exceeding the bidding volume in April 2020. The bidding volume of molybdenum and iron from January to April 2021 is about 40,000 tons. 

In the molybdenum chemical industry and its products market, the overall operation is stable for the time being, and the pace of replenishment by end customers has not changed. This is the main reason that makes it difficult for suppliers to increase their quotations. However, due to the higher activity of the upstream market and the support of costs, holders have a strong sense of reluctance to sell.

According to data from China Steel Association, crude steel output was 271 million tons in the first quarter, an increase of 15.6% year-on-year. Consumption of steel is relatively vigorous. In the first quarter, the actual steel consumption of the main steel industry increased by 47%. The apparent consumption of crude steel in my country was 258.96 million tons, a year-on-year increase of 15.3%. The total profit of member steel companies in the first quarter was 77.4 billion yuan, a year-on-year increase of 247.44%

Prices of molybdenum products on April 28, 2021

Picture of ferro molybdenum

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