Molybdenum Concentrate Price - January 8, 2020

Molybdenum market quotation in China: molybdenum oxide, ferro molybdenum and molybdenum concentrate prices were in the upward trend in the week ended on Friday January 08, 2021 due to good sentiment of insiders and active market trading. 

In the molybdenum concentrate market, the overall volume and price have risen. In order to withdraw funds after the holiday, molybdenum companies have generally increased their willingness to ship goods, and downstream users’ enthusiasm for receiving goods has also increased compared with the previous period. Supported by the operation, the domestic market's bullish sentiment has increased significantly.

In the ferromolybdenum market, the fundamentals of supply and demand are relatively balanced. As the Spring Festival is approaching, downstream steel companies have entered the market for bidding and completed the purchase plan ahead of schedule, and upstream merchants are also willing to ship. Therefore, the transaction channel is slightly smoother, but the price of ferro-molybdenum is difficult to increase significantly.

In the molybdenum chemical and its products market, the level of activity on the market is average. Although supported by the production cost of raw materials, most holders have weak awareness of lowering prices, but due to limited terminal consumption capacity, there are fewer new orders concluded. 

In terms of news: China Iron and Steel Association data shows that in late December 2020, key statistical steel companies produced a total of 23,791,600 tons of crude steel, 2,078,800 tons of pig iron, 24,616,100 tons of steel, and 3.6671 million tons of coke.

Prices of molybdenum products on January 8, 2020

Picture of molybdenum crucible 

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