China’s Domestic Molybdenum Market - January 10, 2022

At the beginning of the week, China’s domestic molybdenum market continued the steady and positive trend of last week. Under the influence of many uncertain factors, the consumer market gradually shifted from a buyer's market to a seller's market.

As the end of the year approaches, companies have limited liquidity, and buyers basically maintain rational consumption. According to Chinatungsten Online, the positive factors include the tightening of environmental protection policies and the rebound of the epidemic in some provinces, which have led to some molybdenum production enterprises to stop production and reduce production, which in turn is conducive to supplier quotations. In addition, in order to ensure normal production and operation of enterprises during the Spring Festival, steel mills are also willing to receive goods recently.

In terms of news: From January to November 2021, key statistical steel companies sold a total of 684.6382 million tons of steel, a year-on-year increase of 1.58%. Among them, domestic sales of steel totaled 664.6047 million tons, a year-on-year increase of 1.45%; direct exports of steel totaled 20.0335 million tons, a year-on-year increase of 6.01%. The cumulative production and sales ratio of steel was 99.36%, up 0.04 percentage points year-on-year.

Prices of molybdenum products on January 10, 2022

Picture of ferro molybdenum

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