China Molybdenum Price - August 7, 2020

China molybdenum price is in the upward trend in the week ended on Friday August 7, 2020 but transactions are hardly concluded at high levels. In the short term, insiders will continue to hold optimistic view for the outlook. 

In the molybdenum concentrate market, the overall trading activity is not very satisfactory. However, due to the impact of heavy rainfall, it has become very difficult for most molybdenum companies to mine molybdenum ore, and the output has been significantly reduced. In addition, the transportation is constrained, and the spot supply of molybdenum concentrates is slightly tight, coupled with the increase in steel bidding market transaction, suppliers keep firm offers. 

The ferromolybdenum market is still under pressure. Although the sentiment of steel companies entering the market for inquiries and purchases has increased compared with last week, it has not fully offset the damage caused by imports to the market. Therefore, the price of ferromolybdenum is temporarily stable; In the chemical industry and its products market, there is no significant change in the market for the time being. In the case of insufficient upstream market, the operating atmosphere in the market is slightly sluggish, superimposed on the demand side, the quotations of holders are difficult to increase.

Prices of molybdenum products on August 7, 2020

Picture of molybdenum sheet 

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