China’s Ferro Molybdenum Price – September 8, 2021

China’s Ferro Molybdenum Price – September 8, 2021

China’s ferro molybdenum price declines slightly while molybdenum concentrate and ammonium molybdate prices remain unchanged on September 8, 2021 as the price game between buyers and sellers is fierce. 

From the perspective of favorable factors, firstly, the high volume of molybdenum products in the early stage has not only effectively reduced the recent sales pressure of molybdenum chemical companies, but also many molybdenum companies are currently mainly delivering pre-orders; secondly, in order to welcome the Mid-Autumn Festival and National Day, environmental protection Intensified crackdowns, coupled with the impact of heavy rainfall in some areas, reduced the output of molybdenum mining companies; the third is that ferromolybdenum companies in Henan, Shandong and other regions plan to suspend production for maintenance in the middle of this month, which may stimulate some steel companies to enter the site for bidding in advance.

From the perspective of negative factors, firstly, the current price of molybdenum chemical products is still relatively high and the number of early purchases is large, which are the main reasons for the recent decline in the consumption capacity of downstream users; secondly, in the context of carbon peak and carbon neutrality, the upgrading of steel production restrictions and the recent suspension of production and maintenance by many steel companies will affect the market activity of steel recruitment to a certain extent, thereby reducing the consumption of ferromolybdenum.

In the news: in August 2021, China imported 1.063 million tons of steel, an increase of 14,000 tons from the previous month, an increase of 1.3%; the average price was US$1440.7/ton, an increase of US$91.8/ton from the previous month, an increase of 6.8%. In the same period, the export of steel products was 5.053 million tons, a decrease of 616,000 tons from the previous month, a decrease of 10.9%; the average price was US$1443.8/ton, an increase of US$104.5/ton from the previous month, an increase of 7.8%.

Prices of molybdenum products on September 8, 2021

Picture of ferro molybdenum 

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