China Molybdenum Price - Sep. 9, 2022

China molybdenum price moved up slightly in the week end on Friday, September 09, 2022 mainly due to the tight spot supply of molybdenum raw materials and the rise in prices and quantity of steel tenders. 

However, the high level of international molybdenum prices and the increased fear of heights among downstream users have led to a small increase in supplier quotations.

From the perspective of the supply side, firstly, due to frequent high temperature and rainstorms, natural disasters such as mountain torrents and high pressure on environmental protection, many molybdenum mining companies have increased difficulty in mining, resulting in a reduction in production; secondly, power cuts in many places at the end of August have caused most The restrained production capacity release of molybdenum manufacturers, coupled with the strong willingness of stockholders to take profits at that time, is the reason for the low spot inventory in the market recently; thirdly, the international molybdenum price is relatively high, which is not conducive to the import of domestic molybdenum raw materials increase in volume.

From the perspective of demand, although under the background of global carbon neutrality, crude steel production restrictions in many places are still being implemented, but with the approaching of the Mid-Autumn Festival and National Day holidays, downstream users and steel companies are more willing to purchase in advance, coupled with the traditional peak season of consumption, the market demand is heating up. However, with the rise in molybdenum prices, the market demand may gradually decrease in the short term.

In terms of news: data from the China Iron and Steel Association shows that in July, the procurement costs of major raw materials and fuels for benchmarking and potential enterprises decreased month-on-month. Among them, metallurgical coke, pellets and scrap steel fell by more than 10%. From January to July 2022, the cumulative purchase cost of coking coal increased by 70.93% year-on-year; metallurgical coke increased by 25.86% year-on-year; domestic iron concentrate decreased by 24.49% year-on-year, imported fine ore decreased by 26.33% year-on-year; scrap steel increased by 4.46% year-on-year.

Prices of molybdenum products on Sep. 9, 2022

Picture of molybdenum electrode 

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