Molybdenum Oxide Price - November 16, 2022

China molybdenum price increases on the whole on November 16, 2022. Under the background of the small stock in the market and the difficulty in increasing the supply in the future, steel companies have intensively entered the market to bid for ferromolybdenum and the bidding price is acceptable, which has greatly increased their confidence in raising prices. 

Currently, the prices of ferromolybdenum and molybdenum oxide are around RMB 218,000/ton and RMB 3,350/ton respectively.

From the perspective of the supply side, first, affected by the relatively tense epidemic situation in many places such as Shaanxi and Henan, the production of local molybdenum manufacturers is limited to a certain extent, coupled with the continuous crackdown on environmental protection, it is even more difficult to increase the spot supply in the market; second, The recent slight increase in the international molybdenum price and the current exchange rate of USD to RMB (7.0444) are not low, which is not conducive to the heating up of my country's molybdenum raw material import market, so the domestic molybdenum market's shortage of supply is difficult to alleviate.

From the perspective of demand, in addition to the fact that it is currently in the traditional peak season of consumption and the downstream industry of molybdenum is developing well, which is the reason for the increase in demand for molybdenum, the severe epidemic situation in many places has led to slow logistics and transportation, which has also significantly enhanced consumers to complete purchases in advance Awareness of planning, so as to avoid the phenomenon of production reduction and production stoppage due to the inability of enterprises to receive goods in time.

News: According to data from the National Bureau of Statistics, in October 2022, China's average daily output of crude steel was 2.5729 million tons, a month-on-month decrease of 11.2%; the average daily output of pig iron was 2.2848 million tons, a month-on-month decrease of 7.3%; The month-on-month decrease was 4.3%. In October, China's crude steel output was 79.76 million tons, an increase of 11.0% year-on-year; pig iron output was 70.83 million tons, an increase of 11.9% year-on-year; steel output was 114.85 million tons, an increase of 11.3% year-on-year.

Prices of molybdenum products on November 16, 2022

molybdenum oxide price photo

Picture of black TZM rod 

black TZM rod photo

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