Ferro Molybdenum Price - December 3, 2021

China’s ferro molybdenum, molybdenum powder and oxide prices edged higher in the week ended on Friday, December 03, 2021 with trading volume increased as well. However, because the crude steel production limit policy is still strict and the liquidity is tight, most downstream users dare not blindly take goods, resulting in insufficient motivation for the price of molybdenum to rise sharply.

In the molybdenum concentrate market, after a substantial increase in the second half of last month, the inventory pressure of molybdenum mining companies has been significantly reduced. Coupled with the increase in downstream demand and the difficulty in raw material mining, holders have a stronger sense of quotation. 

In the ferro-molybdenum market, low-priced sources of goods on the market have gradually decreased, the rising steel prices and the difficulty in mining low-priced molybdenum concentrates are the main reasons for the increase in confidence in the price increase of intermediate smelters. The current price of ferro molybdenum is about 143,000 yuan/ton. In addition, the total amount of steel recruitment in November exceeded 10,000 tons. 

In the molybdenum chemical and its products market, transactions are mostly based on long-term orders. With the increase in raw material prices, suppliers’ quotations have also been raised, and the price of molybdenum powder has risen to around 290 yuan/kg. However, the end customers are still cautious. 

In the news: China exported 39.006 million tons of flat plates from January to October 2021, accounting for 67.8% of total exports; 92.5% of the increase in exports came from flat plates, and among the six major categories, only plate exports were compared with 2020 and 2019. Positive growth over the same period, year-on-year growth rates were 45.0% and 17.8%. Among them, the export of steel products in October was 4.497 million tons, a month-on-month decrease of 423,000 tons, or 8.6%, which was a decline for 4 consecutive months. The export volume in a single month hit an 11-month low.

Prices of molybdenum products on December 3, 2021

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Picture of molybdenum rod 

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