China’s Domestic Molybdenum Price – September 30, 2021

China’s Domestic Molybdenum Price – September 30, 2021

China’s domestic molybdenum price declines slightly in the last trading day in September in the wake of tight electricity consumption in many regions, increased supervision of the molybdenum industry, and concentrated suspension of production and maintenance by steel companies. 

The molybdenum concentrate market is in a stalemate. Downstream users have poor stocking sentiment and seek for lower prices, resulting in fewer new orders and lower molybdenum concentrate prices. However, due to the current low raw material spot positions and high mining costs, molybdenum companies have limited room for price reduction, and the mainstream price of molybdenum concentrate is RMB 2,350/tonne. 

In the ferromolybdenum market, the fundamentals are weak. Although there are still some steel companies willing to enter the site for bidding, the bidding price is not ideal. As a result, the profit of the intermediate smelting company is severely reduced when the raw material prices are relatively high and the transportation costs are high. Space, in September, the total amount of ferro-molybdenum was about 8,000 tons.

In the molybdenum chemical industry and its products market, the overall operation is under pressure, and product prices are mainly affected by the relationship between supply and demand. Under the background of insufficient end-customer consumption and weakened upstream market support, the confidence of molybdenum chemical companies has declined, but it is affected by the traditional peak season of consumption. As a result, the willingness of holders to raise prices is generally stronger.

News: According to public investment project information, there are currently 45 million tons of steel production capacity under construction worldwide, and it is planned to start production in 2021-2023. Among them, Asia, the Middle East, North America, Africa, Europe and Latin America have 18.6 million tons, 16.4 million tons, 4 million tons, 3.2 million tons, 2.2 million tons and 700,000 tons of crude steel capacity respectively.

Prices of molybdenum products on September 30, 2021

Picture of ferro molybdenum

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