Molybdenum Oxide Price - October 10, 2020

The ferro molybdenum, molybdenum powder and molybdenum oxide prices in China maintain stability but start to show sign of rise on October 10, 2020 thanks to good sentiment and firm offers of market participants, despite of low trading activity.

From the perspective of positive factors, first, many steel companies are more active in bidding after the holiday, which has promoted traders to generally increase their trading confidence and strong bullish sentiment. Second, during the National Day holiday, the international molybdenum price has been raised several times. It has played a greater supporting role in the renewal of confidence in the domestic market, so market prices are more likely to rise in the short term. 

From the perspective of negative factors, the continued spread of epidemic in overseas markets is still one of the reasons why the global manufacturing industry’s prosperity is difficult to improve, which in turn has more or less impact on consumers’ confidence. In addition, in the traditional peak season of consumption, downstream demand is less than expected, which is also one of the factors that cause buyers to lower prices.

In the news: The PMI of the domestic steel industry in September was 43.9%, a decrease of 3.1 percentage points from the previous month, and the fourth consecutive month of decline. From the perspective of sub-item data, the new order index fell 9 percentage points from the previous month to 36.6%, the lowest since February; the new export order index rebounded by 11.9 percentage points from the previous month to 46.6%.

Prices of molybdenum products on October 10, 2020

Picture of molybdenum block 

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