China Molybdenum Price - November 22, 2021

At the beginning of the week, China’s overall domestic molybdenum market still underperformed. Although the recent sharp decline in raw material prices has supported the confidence of downstream users to purchase on dips to a certain extent, the overall demand is still not as expected, so it will be relatively difficult for molybdenum price to rise in the short term.

However, supported by production costs, mainstream molybdenum mining companies have a strong sense of quotation, so there is little room for bargaining on molybdenum products.

In terms of news: the "Iron and Steel Industry Carbon Peak and Carbon Reduction Action Plan" proposes preliminary goals and five major paths. The industry carbon peak target is initially set as: before 2025, the iron and steel industry will achieve a peak carbon emissions; by 2030, the carbon emissions of the iron and steel industry will be reduced by 30% from the peak, and it is expected that carbon emissions will be reduced by 420 million tons. There are five major paths to achieve the goal, namely, promoting green layout, energy conservation and energy efficiency, optimizing energy use and process structure, building a circular economy industrial chain, and applying breakthrough low-carbon technologies.

Prices of molybdenum products on November 22, 2021

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Picture of molybdenum electrode 

molybdenum electrode image

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