Sodium Molybdate Price - May 30, 2022

At the beginning of the week, China’s ferro molybdenum, molybdenum powder and sodium molybdate prices are unchanged from last week. Under the influence of many uncertain factors, the mentality of buyers and sellers is slightly different, that is, suppliers have strong profit-taking psychology, and buyers have general demand. 

According to Chinatungsten Online, the positive factors include that many steel companies are still willing to bid for ferromolybdenum and Shanghai will dynamically revise the epidemic prevention and control guidelines for resumption of work and production. Negative factors include the strong price pressure sentiment of steel companies and the lack of confidence in molybdenum concentrate companies to stabilize prices.

In terms of news: data from the China Iron and Steel Association shows that from January to April 2022, the total profits of industrial enterprises above designated size in the country were 2,658.23 billion yuan, a year-on-year increase of 3.5%. Among them, the mining industry realized a total profit of 543.57 billion yuan, a year-on-year increase of 1.46 times; the manufacturing industry realized a total profit of 1,981.92 billion yuan, down 8.3%. In terms of industries, from January to April, the non-ferrous metal smelting and rolling processing industry increased by 40.3%, the chemical raw material and chemical product manufacturing industry increased by 14.8%, the automobile manufacturing industry decreased by 33.4%, and the ferrous metal smelting and rolling processing industry decreased by 55.7%.

Prices of molybdenum products on May 30, 2022

Picture of molybdenum crucible 

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