Molybdenum Concentrate Price – Aug. 4, 2021
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- Category: tungsten‘s News
- Published on Friday, 06 August 2021 15:27
China’s ferro molybdenum and molybdenum oxide prices edge higher on Aug. 4, 2021 compared with the previous trading day. The active steel tender market and the continued tightening of molybdenum raw material supply are the main sources of motivation for the industry to be optimistic about the market outlook.
On the supply side, first, the increase in natural disasters such as floods and mudslides has forced molybdenum mining companies to increase the difficulty of mining and reduce production; second, in the context of carbon neutrality, environmental protection policies have become stricter, causing production suspension or reduction; third, since June, mining companies have successively overhauled, which is also one of the reasons for the current tight supply of molybdenum concentrate.
From the demand side, the first is the centralized bidding of steel companies, which greatly supports the bullish sentiment of molybdenum companies; the second is the stable recovery of the global economy and the increase in demand for molybdenum raw materials by downstream users, which is also the main reason for the stable operation of the market. Affected by the off-season, end customers purchase cautiously, resulting in fewer high-level transactions for molybdenum powder and ammonium molybdate.
In the news: The State Council Tariff Commission stated that from August 1, 2021, the export tariffs of ferrochrome and high-purity pig iron will be appropriately increased, and the export tariff rates of 40% and 20% will be implemented after adjustments. At the same time, the cancellation of export tax rebates for 23 steel products such as cold rolled and oriented silicon steel is aimed at further controlling crude steel production capacity.
Prices of molybdenum products on Aug. 4, 2021
Picture of molybdenum crucible
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