China Molybdenum Price - November 19, 2021

China molybdenum price was in the downward trend in the week ended on Friday November 19, 2021. Affected by the lack of support from positive factors, the buyer’s market has a greater advantage, mainly reflected in the sharp decline in molybdenum prices. 

However, as molybdenum products gradually approach the cost line, many holders have gained the awareness of profit, so the price reduction space in the later period may be reduced.

In the molybdenum concentrate market, the atmosphere on the market is becoming stronger. Under the low raw material prices, downstream users' inquiries and purchases have increased. Coupled with the support of production costs, molybdenum mining companies have a stronger sense of quotation; In the ferromolybdenum market, the overall situation is in a dilemma. With the contradictions between the high price reduction sentiment of steel enterprises and the low willingness of upstream businesses to make profit, the intermediate smelting enterprises are facing a greater risk of upside-down. The current industry players are focusing on the steel at the end of this month; the molybdenum chemical and its products market is tepid, and the end customers basically maintain rigid demand purchases. However, as the prices of raw materials have fallen, holders have basically maintained rational price adjustments.

Data from the National Bureau of Statistics show that in October 2021, the country’s crude steel output was 71,583,500 tons, of which 16 provinces saw a month-on-month decrease in crude steel output. In terms of data by province, in October, Hebei Province’s crude steel output was 15.1566 million tons, down 27.67% year-on-year and 9.51% month-on-month; Jiangsu Province was 9.0301 million tons, down 17.44% year-on-year and up 15.43% month-on-month; Shanxi Province was 5.5624 million tons, a year-on-year decrease of 4.39% and a month-on-month increase of 6.57%.

Prices of molybdenum products on November 19, 2021

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Picture of molybdenum plate 

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