Ferro Molybdenum Price – July 1, 2021

Ferro Molybdenum Price – July 1, 2021

Molybdenum market quotation in China: ferro molybdenum, molybdenum oxide and concentrate prices are in the downward trend in the first trading day in July, 2021.

In the context of increasing market bearish sentiment, the negotiation atmosphere between buyers and sellers was slightly stale, so the new orders fell short of expectations and there was room for bargaining.

Negative factors: first, the decline in overseas molybdenum prices and trading volume has had a greater impact on the confidence of the domestic molybdenum market; second, steel companies are generally enthusiastic about purchasing in the market and have a heavier price reduction mentality, which is not conducive to the quotations of ferro-molybdenum merchants. 

Favorable factors: first, affected by the hot weather and frequent thunderstorms, mountain torrents and mudslides have occurred in some areas, which have increased the difficulty of local molybdenum mining companies and also caused local transportation to slow down; second, with the increase in the number of vaccinated people, the domestic economic recovery has subsequently accelerated, and most of the factory operations have returned to the level before the outbreak. Therefore, in the medium and long term, the fundamentals of the molybdenum market are still strong.

In June, the sales volume index and order index of steel circulation enterprises were 39.5% and 39.8%, respectively, a decrease of 6.6 percentage points month-on-month; the inventory index was 51.2%, an increase of 6.3 percentage points month-on-month, and began to rebound after three consecutive months of decline; purchase willingness The index was 45.4%, a decrease of 1.2 percentage points from the previous month; the trend judgment index was 44.0%, an increase of 0.9 percentage points from the previous month.

Prices of molybdenum products on July 1, 2021

Picture of ferro molybdenum

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