Sodium Molybdate Price – October 21, 2021

Sodium Molybdate Price – October 21, 2021

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices edge lower on October 21, 2021 as the market is in a stalemate. 

Favorable factors: first, in order to welcome the Winter Olympics, environmental protection supervision in the northern region has been strengthened, which has affected the production of many molybdenum chemical companies. The tight supply of molybdenum raw materials will help holders to firm up their quotations; second, the continuous rise of international molybdenum prices and "Golden Nine and Silver Ten" play a certain role in supporting the increase of confidence in the domestic molybdenum market.

Negative factors: first, in order to consume inventory and withdraw funds, the quotations of molybdenum mining companies generally fell sharply, resulting in a decline in the prices of many downstream molybdenum products. The current price of ferromolybdenum is about 156,000 yuan/ton; second, it is subject to dual control of energy consumption and power restrictions. As a result of the policy, the performance of the steel recruitment market is not very optimistic, and some steel plants are still in a state of limited production; third, the rigid demand of end customers is difficult to change, which has largely restrained the price increase of molybdenum raw materials.

In the news: According to data from the National Bureau of Statistics, China's crude steel production fell sharply in September to 73.75 million tons, a 11.4% month-on-month decline and a year-on-year decline of 21.2%. From January to September, China produced a total of 805.89 million tons of crude steel, a year-on-year increase of 2.0%.

Prices of molybdenum products on October 21, 2021

Picture of molybdenum alloy part 

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