Ferro Molybdenum Price – July 23, 2021

Ferro Molybdenum Price – July 23, 2021

China molybdenum market maintained stable operation as a whole in the week ended on Friday, July 23, 2021. With the continued weakening of positive factors, the cautious attitude of buyers and sellers has increased compared with last week, resulting in limited transactions.

In the molybdenum concentrate market, supply and demand are in a relatively weak balance stage. The low enthusiasm of ferro-molybdenum merchants to receive goods and the strong mentality of molybdenum mining companies to reluctantly sell are the main reasons for the slow growth of orders. Recently, affected by heavy rain and the maintenance season, Yichun Luming and other molybdenum companies have experienced a decline in output.

In the ferro-molybdenum market, bulk inquiries are common, and the number of steel companies entering the site for bidding is limited, which is the main factor hindering the upward adjustment of the quotations of intermediate smelting companies. However, the price of steel tender for ferro molybdenum is relatively optimistic, at around 155,000 yuan/ton.

In the molybdenum chemical industry and its products market, the buying and selling atmosphere on the market was slightly calm. The pressured operation of the international molybdenum market and the insufficient driving capacity of the upstream market made it difficult for the price of molybdenum chemical products to rise. However, due to the support of production costs, the possibility of a decline is unlikely.

In the news: In 2021, the total operating income of China's top 500 listed companies will reach 53 trillion yuan, an increase of 5% over last year; the net profit will reach 4.3 trillion yuan, an increase of about 2% over last year. Among them, there are a total of 28 steel-related companies in the "Fortune" China 500, and 4 companies have entered the top 100.

Prices of molybdenum products on July 23, 2021

Picture of sodium molybdate

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