China Molybdenum Price - September 18, 2020

China molybdenum price kept stable on the whole in the week ended on Friday September 18, 2020 with limited release of goods news and reduced transaction prices. Most insiders now focus on the new round of steel tenders.

In the molybdenum concentrate market, the overall activity is not high. Downstream ferro-molybdenum manufacturers are hesitant to enter the market. This is the main factor hindering the upward adjustment of molybdenum companies’ quotations. However, the raw material production capacity has not been reduced and Yichun Luming is about to resume work, which result in the weakened confidence. But mainstream holders still maintain firm quotations and have greater expectations for the market outlook.

The ferromolybdenum market has improved slightly. At the beginning of the week, due to the strong wait-and-see sentiment of steel companies, the market transaction was relatively low. In order to avoid the risk of price inversion, the suppliers basically have a strong sense of to keep firm offers. As the festival approaches, the bidding activity of steel companies has increased, and market expectations are improving in the short term.

The molybdenum chemical and its products market has prices but no sales on the whole. Although the current product prices are relatively low, it is still difficult to arouse the desire of end users to consume, so the transaction is low. Recently, the international molybdenum oxide price fluctuates frequently, which is mainly related to exchange rate changes. The RMB exchange rate is about 6.76 this morning.

Prices of molybdenum products on September 18, 2020

Picture of molybdenum powder

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