China Molybdenum Price - November 26, 2021

China molybdenum price increases slightly in the week ended on November 26, 2021 because traders’ confidence is strengthened and orders also increases in the market. 

In the molybdenum concentrate market, the fundamentals are relatively good, and ferro-molybdenum merchants are more enthusiasm for receiving goods, which has greatly reduced the inventory pressure of suppliers. Coupled with bad weather and high environmental protection, the output of some mining companies has shrunk, which is also the market reluctance to sell for the increase in price.

In the ferromolybdenum market, the transaction volume was significantly higher than before, mainly due to the delay of many steel companies in the early stage of the procurement plan, coupled with the recent low price of ferromolybdenum, which also stimulated the consumer desire of steel mills to a certain extent. Against this background, intermediate smelting companies face a relatively low risk of upside-down.

In the molybdenum chemical industry and its products market, the transaction volume and prices are average, and the price game between the supply and demand sides is weak. End customers basically maintain rational consumption. Supported by raw material prices, holders are slightly cautious in price adjustments. The current prices of ferromolybdenum and ammonium heptamolybdate are around 134,000 yuan/ton and 141,000 yuan/ton respectively.

In the news: In late November 2021, the steel inventory of key steel companies was 13.9272 million tons, an increase of 420,400 tons from the previous month, an increase of 3.11%; an increase of 1.0823 million tons or 8.43% from the end of the previous month; an increase of 2,306,200 tons from the beginning of the year. An increase of 19.84%; an increase of 1,357,400 tons over the same period last year, an increase of 10.80%.

Prices of molybdenum products on November 26, 2021

Picture of molybdenum concentrate 

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