Molybdenum Concentrate Price - August 1, 2022

China molybdenum market was still weak at the beginning of the week. Under the influence of factors such as the import window of molybdenum raw materials has not been closed, most steel companies have cut production and stopped production due to falling into inversion and loss, and the Federal Reserve has raised interest rates to curb the rise in commodity prices, the quotations of molybdenum chemical companies have been basically lowered slightly.

The current price of molybdenum concentrate and ferro molybdenum has dropped slightly to around RMB 2,470/ton and RMB 161,000/ton respectively. However, supported by the production cost and the reduction in the output of domestic molybdenum mining enterprises, the price decline of molybdenum chemical products narrowed slightly.

In terms of news: According to the PMI data of the steel industry surveyed and released by the China Federation of Steel Logistics Professional Committee, in July 2022, it was 33.0%, a month-on-month decrease of 3.2 percentage points. Among the main sub-indices, the production index in July was 26.1%, down 8.0 percentage points from the previous month; the new orders index was 25.9%, the same as the previous month; the purchase price index was 24.6%, down 5.1 percentage points from the previous month; the finished product inventory index It was 33.0%, down 15.0 percentage points from the previous month; the raw material inventory index was 28.20%, down 8.7 percentage points from the previous month; the new export order index was 39.4%, down 7.7 percentage points from the previous month.

Prices of molybdenum products on August 1, 2022

molybdenum concentrate price photo

Picture of ammonium molybdate 

ammonium molybdate photo

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