Sodium Molybdate Price - May 11, 2022

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices are in the downward trend in the middle of May 2022. 

Under the influence of many uncertain factors, the buyer's market has a greater advantage, which is mainly reflected in the slightly stalemate in the negotiation of traders, the slight decline in the prices of many molybdenum chemical products, and the actual transaction volume. Many industry players have different views on the market outlook.

From the point of view of positive factors, firstly, due to the excessive rainy weather and environmental protection pressure, molybdenum mining enterprises have limited release of production capacity, coupled with the support of production costs, holders are more willing to maintain firm quotations; secondly, due to the interest rate hike by the Federal Reserve, etc., the devaluation of the RMB is conducive to the warming of the molybdenum export market. In addition, the epidemic situation in Shanghai, Guangzhou, Shenzhen and other places has gradually stabilized, and the port traffic capacity has gradually recovered, which can even increase my country's molybdenum export volume.

From the perspective of negative factors, firstly, under the background of global carbon neutralization and carbon peaking, the output of crude steel may be further reduced. As one of the key additives for steel, the amount of molybdenum may be reduced accordingly, which is unfavorable to the rise of molybdenum prices; secondly, the international molybdenum market is tepid, and it is difficult to drive the domestic molybdenum market to heat up.

In terms of news: data from the China Iron and Steel Association shows that at the end of April 2022, the steel inventory of key iron and steel enterprises totaled 18.0887 million tons, a decrease of 1.5785 million tons or 8.03% over the previous ten days; an increase of 1.4687 million tons over the end of last month, an increase of 8.03%. 8.84%; an increase of 6.7918 million tons over the beginning of the year, an increase of 60.12%; an increase of 4.6749 million tons over the same period last year, an increase of 34.85%.

Prices of molybdenum products on May 11, 2022

Picture of sodium molybdate

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