Molybdenum Powder Price - October 17, 2022

At the beginning of the week, China’s ferro molybdenum, molybdenum powder and oxide prices continue to increase and other product prices keep strong on October 17, 2022. 

In the context of the sharp rise in the prices of molybdenum concentrate and ferro-molybdenum last week, molybdenum mining enterprises and ferro-molybdenum merchants are generally more aware of profit-taking. However, in order to avoid the risk of upside down, the enthusiasm of many steel companies to consume has declined significantly, so there are fewer new orders.

Chinatungsten Online believes that the problem of tight spot supply in the market is difficult to solve in the short term, mainly due to the influence of factors such as the convening of the 20th National Congress, the strengthening of environmental protection efforts, and the sluggish logistics and transportation caused by the outbreak of epidemics in many places.

In terms of news: data from the China Iron and Steel Association shows that in the first ten days of October 2022, the steel inventory of key steel enterprises was 16.3169 million tons, an increase of 434,000 tons or 2.73% over the previous ten days; a decrease of 747,600 tons over the same ten days of the previous month. A decrease of 4.38%; an increase of 5,020,000 tons or 44.44% over the beginning of the year; an increase of 3,474,300 tons over the same period last year, an increase of 27.05%.

Prices of molybdenum products on October 17, 2022

Picture of MoSi2 heating element 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >