Ammonium Tetramolybdate Price – September 29, 2021

Ammonium Tetramolybdate Price – September 29, 2021

China molybdenum market remains weak adjustment on September 29, 2021. Under the gradual increase in uncertain factors, buyers and sellers are cautious, causing the consumer market gradually shifting from a seller's market to a buyer's market. 

In the molybdenum concentrate market, the fundamentals of supply and demand are weak, leading to increased bearish sentiment among many traders. Affected by factors such as the dual-control power curtailment policy and the approaching National Day, the output of molybdenum mining companies has shrunk and costs have risen, which has become the main source of motivation for the strong price of molybdenum concentrate.

In the ferro-molybdenum market, the overall relatively sluggish price of steel and the increase in the price of some auxiliary materials have caused the quotations of intermediate smelting companies to be obviously difficult. However, the curtailment of electricity and poor market conditions have prompted many ferro-molybdenum merchants to actively reduce production, so molybdenum There are not many iron spot inventories. At present, most industry players are focusing on the performance of the steel recruitment market after the National Day.

In the molybdenum chemical industry and its products market, on-site purchases and sales are relatively low. In addition to the poor performance of the upstream market, the consolidation of the international molybdenum market is also a major factor that weakens the confidence of suppliers in raising prices. The current prices of ammonium tetramolybdate and ammonium heptamolybdate have dropped to around RMB 158,000/ton and RMB 163,000/ton respectively.

In the news: this round of dual-control steel production lines in Jiangsu Province has affected 70% of the area. It will be difficult to fully recover before October 7th. The steel supply will be reduced by about 3 million tons. Although it is not enough to cause market shortages in the short term, it has a serious impact on normal production and business order.

Prices of molybdenum products on September 29, 2021

Picture of ferro molybdenum

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