Ferro Molybdenum Prices - May 28, 2020

The molybdenum powder, molybdenum oxide and ferro molybdenum prices in China are unchanged from the previous trading day on low trading activity but good sentiment of traders. In the molybdenum concentrate market, the market is operating steadily, and downstream users' demand is still tepid. However, due to the limited stock of raw materials, molybdenum companies are not in a hurry to sell products, waiting for the next round of offers.

In the ferro molybdenum market, the fundamentals have been strengthened compared to last week. Against the background of the upcoming month change and the support from Two Sessions, steel mills becomes active in inquiry and thus boost the confidence of ferro molybdenum manufacturers. The molybdenum chemical and its products market is stable. Under the influence of the favorable atmosphere in the upstream market and the state's encouragement of citizens' consumption, the enthusiasm for end customers to pick up goods has slightly recovered, and the market outlook is expected.

Customs data show that China's total import of molybdenum raw materials in April was 6001 tons. Among them, the import of molybdenum concentrate in April was 4,421 tons, an increase of 42.4% year-on-year, and the month-on-month increase was approximately 52.9%; the import of international molybdenum oxide in April was 1,580 tons, an increase of 863.41% year-on-year, and a decrease of approximately 20%.

Prices of molybdenum products on May 28, 2020

Picture of molybdenum electrode 

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