Ferro Molybdenum Price – July 28, 2021

Ferro Molybdenum Price – July 28, 2021

Molybdenum market quotation in China: molybdenum concentrate, power and oxide prices continue to rise on July 28, 2021. With the increasing enthusiasm of traders to enter the market, the wait-and-see mood in the market has declined, and the transaction becomes active.

In the molybdenum concentrate market, the increase in downstream inquiries and the limited release of production capacity have prompted a slight increase in the quotation of molybdenum concentrates. At present, the industry is focusing on the shipments of molybdenum mining companies; in the ferro-molybdenum market, inquiries are average, and downstream steel companies basically purchase according to their actual needs. Supported by strong raw material prices, ferromolybdenum merchants have a strong bullish sentiment. As of now, the recruitment of ferro molybdenum from steel in July has not exceeded 8,000 tons. 

The molybdenum chemical industry and its product market have generally maintained stable operation. The international molybdenum price has stopped falling and rebounded and the upstream market has a good trading atmosphere, which are the main reasons for the increase in confidence of molybdenum chemical companies. According to Chinatungsten Online, some companies have suspended their quotations and mainly delivered early orders.

In the news: In mid-July, the social stocks of five major types of steel in 20 cities were 11.94 million tons, an increase of 280,000 tons from the previous month, an increase of 2.4%; an increase of 4.64 million tons from the beginning of the year, an increase of 63.6%; 3.7%. In terms of different regions, East China increased by 130,000 tons from the previous month, an increase of 4.1%; South China increased by 100,000 tons, an increase of 3.8%; Southwest China increased by 70,000 tons, an increase of 4.2%; Northeast China increased by 10,000 tons, an increase of 1.7%; Northwest China decreased by 10,000 Tons, down 1.4%; North China's inventory was flat month-on-month.

Prices of molybdenum products on July 28, 2021

Picture of molybdenum powder

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