Molybdenum Concentrate Price – May 27, 2021
- Category: tungsten‘s News
- Published on Thursday, 27 May 2021 18:55
Affected by control policies and weak steel prices, molybdenum companies become weak in holding firm offers, and transactions also decreased compared from the first half of May.
In the molybdenum concentrate market, the overall operation is stable, downstream users basically maintain just-needed purchases, while suppliers generally maintain strong quotations under the support of limited raw material inventories; in the ferro-molybdenum market, the pressure is obvious, and the steel bidding price drops and upstream merchants are unwillingness to make price cuts is the main reason that causes intermediate smelting companies to face the risk of inversion; in the molybdenum chemical and its products market, product prices have not changed significantly for the time being, buyers and sellers trade cautiously and reasonably control positions.
In 2020, China's 36 A-share listed steel companies achieved a total net profit of 59.817 billion yuan, a year-on-year increase of 1.57% (based on adjusted data), reversing the decline in performance in 2019. Among them, 21 companies achieved a year-on-year increase in net profit, accounting for 58.33% of the number and 77.77% of the amount; 15 companies’ net profit fell year-on-year, accounting for 41.67% of the number and 22.23% of the amount.
Prices of molybdenum products on May 27, 2021
Picture of ammonium heptamolybdate
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