Molybdenum Concentrate Price - March 24, 2021

China molybdenum price continues to maintain stability on March 24, 2021 due to quiet market trading and cautious market sentiment. Molybdenum concentrate price stands at 1,730 yuan/ton and sellers are reluctant to reduce prices.

Most steel mills have not got the purchasing plan for ferro molybdenum and thus market price keeps stable at 116,000 yuan/ton. Participants are waiting for the new prices and quantity of steel tenders. As for the molybdenum chemical and product market, it is also quiet under the deadlocked supply and demand. 

In terms of news, data from the Molybdenum Branch of the China Nonferrous Metals Industry Association shows that China's molybdenum metal output is about 98,000 tons in 2020, a year-on-year decrease of 0.98%. According to USGS data from the United States, as of the end of 2020, the global reserves of molybdenum resources (metal content) are about 18 million tons, China ranks first in the world with 8.3 million tons of reserves, and the United States, Peru and Chile together have 38% of reserves. China is the main driving force behind the growth of global molybdenum consumption. From 2013 to 2020, China's demand for molybdenum increased to 106,600 metal tons, with a compound annual growth rate of 6.41%.

Prices of molybdenum products on March 24, 2021

Picture of molybdenum nuts 

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