China Molybdenum Concentrate Price - November 5, 2020

China molybdenum price is in the upward trend in early November despite the market is still in a stalemate. However, with the support of high production cost, molybdenum mining enterprises have strong rised mentality. In addition, smelting factories do not consider profit-taking anymore in order to avoid the risk of price inversion. 

At present, molybdenum concentrate price is RMB 1,420/ton, ferromolybdenum price is RMB 98,000/ton, molybdenum oxide tungsten carbide plates price is RMB 1,490/ton, and ammonium tetramolybdate price is RMB 97,000/ton.

At the beginning of this month, although the number of tenders for steel mills was small, the tender price was raised to around 95,000 yuan/ton. This is also one of the reasons why ferro-molybdenum manufacturers have increased their awareness of price increases. Driven by the positive atmosphere in the raw material market, the market of molybdenum chemical and its products has improved slightly, and the relationship between supply and demand is relatively balanced.

In late October, the stocks of five major steel products in 20 cities were 11.27 million tons, a decrease of 890,000 tons or 7.3% from the previous ten days. In terms of sub-regions, East China was the region with the largest reduction, with a month-on-month decrease of 350,000 tons, a decrease Tungsten Carbide Rods Single Hole of 11.5%; North China and South China decreased by 110,000 tons, a decrease of 1.8% and 3.4% respectively; Southwest China decreased by 100,000 tons, a decrease of 3.8%; Central China A decrease of 80,000 tons, a decline of 6.4%; a decrease of 70,000 tons in the northeast and northwest, a decrease of 19.4% and 12.5% respectively.

Prices of molybdenum products on November 5, 2020

Picture of molybdenum crucible 

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