China Molybdenum Price - August 26, 2022

China molybdenum price was in the upward trend in the week ended on Friday, August 26, 2022. At the beginning of the week, affected by the weak supply and demand, the price of molybdenum products remained basically stable; however, the price of molybdenum products has increased at the end of the week, stimulated by the concentrated entry of steel companies to bid for ferromolybdenum. 

At present, the prices of ferro molybdenum and ammonium heptamolybdate have risen slightly to around RMB 168,000/ton and RMB 162,000/ton respectively.

In the molybdenum concentrate market, the transaction volume and price are acceptable. Under the influence of the rising price of steel, ferromolybdenum merchants are more motivated to inquire and purchase, which in turn enhances the confidence of molybdenum mining enterprises to raise prices and take profits; In the market, the fundamentals of supply and demand are relatively good. Under the circumstance that molybdenum mining companies are willing to ship goods and steel mills are willing to enter the market for consumption, intermediate smelting companies are generally optimistic. In the chemical and product market, product prices fluctuate within a narrow range. Under the situation that end customers basically maintain just-in-demand purchases and the upstream market has strong bullish sentiments, suppliers mostly make rational quotations.

In terms of news: China Iron and Steel Association data show that in mid-August 2022, the social inventory of 5 major types of steel in 21 cities was 9.74 million tons, a decrease of 540,000 tons or 5.3% from mid-July; an increase of 1.86 million tons or 23.6% from the beginning of the year %; a decrease of 2.41 million tons or 19.9% over the same period of the previous year.

Prices of molybdenum products on August 26, 2022

Picture of molybdenum rod 

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