Sodium Molybdate Price - May 18, 2022

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain weak adjustment on May 18, 2022. Under the influence of many uncertain factors, most suppliers still have a strong quotation psychology while buyers are generally high in price pressure, so the growth of orders is slow. 

From the perspective of the supply side, under the circumstance that the original molybdenum raw material inventory is not much, frequent rainy weather and the epidemic situation in Henan and other places are still relatively tense, which affects the production of molybdenum production enterprises to a large extent. The spot supply of internal molybdenum raw materials is even less; from the perspective of demand, under the circumstances that industrial enterprises in Shanghai and other places have gradually resumed production and foreign exchange rates have risen slightly, steel companies have successively entered the market to bid for ferromolybdenum and end customers have maintained rigid purchases , greatly reducing the speed of the market's cooling. At present, all 16 districts in Shanghai have achieved social zero.

News: From January to April 2022, China's crude steel, pig iron and steel output were 336.15 million tons, 280.3 million tons and 426.82 million tons, down 10.3%, 9.4% and 5.9% year-on-year, respectively. Among them, the output of crude steel, pig iron and steel in April was 92.78 million tons, 76.78 million tons and 114.83 million tons respectively, down 5.2%, flat and 5.8% year-on-year respectively.

Prices of molybdenum products on May 18, 2022

Picture of molybdenum powder

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