Ammonium Molybdate Price - November 9, 2022

Molybdenum market quotation in China: ammonium molybdate, sodium molybdate and ammonium heptamolvbdate prices remain weak on November 9, 2022. 

In the context of the sharp decline in molybdenum prices in recent weeks and the recent development of molybdenum downstream industries such as the military industry and electrical and electronic industries, most downstream users are more motivated to purchase at bargain prices. Manufacturers have little spot inventory and it is difficult to increase future supply, so stockholders are more willing to maintain firm quotations.

However, as to whether the price of molybdenum can rise sharply again in the future, the industry's opinion is as follows: some people believe that under the uncertainty caused by the slow global economic recession and the epidemic, the price of molybdenum may continue to consolidate at a high level; The price of molybdenum is expected to rise again when the shortage of raw materials has not been fully resolved. Therefore, investors should operate cautiously and pay attention to market changes from time to time.

In terms of news: data from the China Iron and Steel Association shows that in late October 2022, the steel inventory of key steel enterprises was 16.4734 million tons, a decrease of 1.245 million tons or 7.03% compared with the previous ten days; compared with the end of last month (the same ten days of last month) An increase of 590,500 tons, an increase of 3.72%; an increase of 5,176,500 tons, an increase of 45.82% over the beginning of the year; an increase of 3,628,500 tons over the same period last year, an increase of 28.25%.

Prices of molybdenum products on November 9, 2022

Picture of TZM rod

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