Steel prices rise, molybdenum market bottoms out

June 10, 2022 Molybdenum Market

This week, the domestic molybdenum market is showing a bottoming and rebounding pattern. Against the background of rising steel prices and a slight improvement in the global economy, the consumer market has gradually shifted from a buyer's market to a seller's market, which is mainly reflected in the slight rise in molybdenum prices and the outlook for the future. many.

In the molybdenum concentrate market, the market is relatively optimistic. Affected by the active steel recruitment market, ferro-molybdenum merchants are more motivated to enter the market. Coupled with the recent natural disasters such as floods and mudslides, the output of many molybdenum mining enterprises has been reduced. , but also prompted the stockholders to be reluctant to sell and to increase their confidence in the price.

In the ferromolybdenum market, the supply is generally in short supply. Except for the fact that after the Dragon Boat Festival and the unblocking of Shanghai, the enthusiasm of steel companies to enter the market for bidding for ferromolybdenum has increased significantly. The upstream merchants are not willing to sell at low prices, which also increases the price of ferromolybdenum. The main reason is around 174,000 yuan/ton.

In the market of molybdenum chemical industry and its products, the atmosphere of buying and selling on the market is good. Stimulated by the strong bullish sentiment in the raw material market, the end customers' inquiries and purchases have been strengthened, and the transaction volume and price of molybdenum powder and ammonium molybdate have increased slightly. .

In terms of news: data from China Iron and Steel Association shows that from January to May 2022, my country imported 4.98 million tons of steel, a year-on-year decrease of 18.3%; among them, imported steel in May was 806,000 tons, a month-on-month decrease of 15.7%; the average price was 1661.9 US dollars / ton , an increase of 5.7% month-on-month. From January to May 2022, my country exported a total of 25.915 million tons of steel, a year-on-year decrease of 16.2%; among them, the export of steel in May was 7.759 million tons, a month-on-month increase of 55.9%; the average price was US$1,378.8/ton, a month-on-month decrease of 3.7%.