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China Molybdenum Price – March 1, 2021

Posted by: Chris Na 2021-11-06 Comments Off on China Molybdenum Price – March 1, 2021

China Molybdenum Price – March 1, 2021

Category: tungsten’s News
Published on Tuesday, 02 March 2021 09:21

China molybdenum price starts to stabilize in early March after a steadily rise after participants returning from the holiday of Spring Festival over February 11-17. 

However, the overseas molybdenum market has been operating steadily and weakly recently, which is not conducive to the continuous heating of the domestic market to a certain extent. Coupled with the termination of this round of tenders by some steel companies, it has strengthened the market's cautious wait-and-see atmosphere. In the short term, market prices may continue to be stable. 

On February 28, the "Statistical Communiqué of the People's Republic of China on National Economic and Social Development in 2020" issued by the National Bureau of Statistics showed that China's crude steel output in 2020 was 1.064.767 million tons. China exported 53.67 million tons of steel, a year-on-year decrease of 16.5%, and the amount was 315.1 billion yuan, a year-on-year decrease of 14.8%; imported 20.23 million tons of steel, a year-on-year increase of 64.4%, and the amount was 11.65 million yuan, a year-on-year increase of 19.8%.

Prices of molybdenum products on March 1, 2021

Picture of molybdenum ring 

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