China Ferro Molybdenum Price - September 27, 2020

Molybdenum market quotation in China: the ammonium molybdate, ferro molybdenum and molybdenum oxide prices edge lower in late September due to deadlocked supply and demand, and limited market transactions. 

As the Mid-Autumn Festival and National Day holiday approached, many steel companies were hesitant to enter the market for bidding. Even if a few steel companies were willing to enter the market, the bidding price was low, which intensified the pessimism of ferro-molybdenum merchants and weakened their quotations. In addition, the decline in international molybdenum prices is also one of the reasons for the decline in market confidence. Oversupply may continue to occur in the market recently.

The latest data from the World Iron and Steel Association show that the crude steel output in 64 countries in the world was 156 million tons in August, an increase of 0.6% year-on-year. This was the first positive year-on-year growth in six months. China's crude steel output in August was 94.8 million tons, an increase of 8.4% year-on-year; world crude steel output excluding China fell by 9.5% year-on-year.

Prices of molybdenum products on September 27, 2020

Picture of molybdenum crucible 

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