Molybdenum Oxide Price – September 9, 2021

Molybdenum Oxide Price – September 9, 2021

China’s domestic molybdenum market shows signs of a high level of correction in early September, 2021, mainly due to the poor performance of steel companies in bidding volume and price. However, due to the tight supply of raw materials and the "Golden Nine, Silver and Ten" season, holders have a strong rised mentality. 

At present, molybdenum concentrate price is about 2,460 yuan/mtu, molybdenum oxide price is about 2,560 yuan/mtu, and ferromolybdenum price is about 164,000 yuan/ton.

According to Chinatungsten Online, in order to welcome the Mid-Autumn Festival, National Day and the Winter Olympics, environmental protection inspections in various regions across the country have been significantly increased, which has caused some ferro-molybdenum companies in the Northeast to enter a state of suspension of production and maintenance ahead of schedule. At the same time, to a large extent, the desire of steel companies to enter the market for bidding in advance is stimulated to ensure that relevant companies can operate normally in October, and the molybdenum market has been heated up.

In terms of news: From January to August 2021, China's total import and export value was 24.78 trillion yuan, a year-on-year increase of 23.7%. Among them, exports were 13.56 trillion yuan, a year-on-year increase of 23.2%; imports were 11.22 trillion yuan, a year-on-year increase of 24.4%; the trade surplus was 2.34 trillion yuan, a year-on-year increase of 17.8%. In August, China's total import and export value was 3.43 trillion yuan, a year-on-year increase of 18.9% and a month-on-month increase of 5%. Among them, exports were 1.9 trillion yuan, a year-on-year increase of 15.7%, and a month-on-month increase of 4.9%; imports were 1.53 trillion yuan, a year-on-year increase of 23.1% and a month-on-month increase of 5.1%; the trade surplus was 376.31 billion yuan, a year-on-year decrease of 6.8%.

Prices of molybdenum products on September 9, 2021

Picture of molybdenum sheet 

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