China Molybdenum Oxide Price - October 15, 2020

Molybdenum market quotation: molybdenum oxide price rises slightly while prices of sodium molybdate and ammonium heptamolvbdate are unchanged from the previous trading day on increased trading activity of market participants. 

In the molybdenum concentrate market, there are more new orders and higher international molybdenum prices, which reduces the import of molybdenum raw materials to a certain extent. This is one of the reasons why the confidence of molybdenum enterprises has generally increased. In addition, downstream businesses are more active in stocking. Holders even maintained firm quotations. Currently, the import price of molybdenum oxide is above $9.00/ton.

In the ferromolybdenum market, transactions in the bulk market are relatively optimistic. After the holiday, the steel market's trading enthusiasm has risen sharply, which is the main reason for the rise in the price of ferromolybdenum. The current bidding price is between 94,000-96,000 yuan/ton. Whether ferromolybdenum transactions can continue to follow up will affect the entire market.

In the molybdenum chemical and its products market, overall inquiries have increased, so suppliers become active, and the willingness to raise prices is strong. Domestic molybdenum oxide price is about 1,490 yuan/ton, and the price of sodium molybdate is about 75,000 yuan/ton. The price of ammonium heptamolybdate is about 100,000 yuan/ton.

In the news: China exported 3.828 million tons of steel in September 2020, an increase of 15 million tons from the previous month, a year-on-year decrease of 30.8%; from January to September, China's export of steel was 40.385 million tons, a decrease of 19.6% from the same period last year. In September, China imported 2.885 million tons of steel, a month-on-month increase of 645,000 tons, a year-on-year increase of 159.9%; from January to September, China imported 15.073 million tons of steel, an increase of 72.2% over the same period last year.

Prices of molybdenum products on October 15, 2020

Picture of molybdenum oxide 

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