China Molybdenum Powder Price – July 16, 2021

China Molybdenum Powder Price – July 16, 2021

China’s domestic molybdenum market has maintained a stable and positive operation in the week ended on Friday, July 16, 2021. Affected by tight supply and increased demand, the seller's market has a greater advantage, which has prompted a slight increase in the price of molybdenum products. 

However, the weak and stable operation of the international molybdenum market is positive for the increase in China’s imports. To a certain extent, it will affect the increase of domestic molybdenum price.

In the molybdenum concentrate market, as the price of raw materials continues to rise, the willingness of molybdenum mining companies to ship has also increased; in the ferro-molybdenum market, there is a high degree of enthusiasm, except for the increase in bidding volume and price by steel companies. In addition to the positive atmosphere in the upstream market, increased efforts to crack down on environmental protection have caused some ferro-molybdenum plants to suspend production and reduce production, which is also conducive to the increase in transaction prices. 

In the molybdenum chemical and its products market, there is strong bullish sentiment on the market. Although the end customers basically keep rigid demand, supported by the increase in molybdenum concentrate prices and limited inventory of some molybdenum chemical products, supplier quotations were generally firm, and molybdenum powder price once again advanced towards 310.00 yuan/kg.

In the terms of news: In early July, the social inventory of five major steel products in 20 cities was 11.66 million tons, an increase of 370,000 tons from the previous month, an increase of 3.3%, and the inventory continued to rebound slightly; an increase of 4.36 million tons from the beginning of the year, an increase of 59.7%, and a decrease from the same period last year. 820,000 tons, down 6.6%.

Prices of molybdenum products on July 16, 2021

Picture of molybdenum powder

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