Monthly Molybdenum Market Report Mar 2020
2020-04-15 18:00:46 【Print】
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1. Market Highlights
In March, the international molybdenum market saw continuous decrease of prices due to sluggish demand caused by COVID-19. Prices in Chinese molybdenum market kept declining dragged by muted downstream demand. Downstream molybdenum steel producers resolutely squeezed down on ferromolybdenum bidding prices due to high inventory and sharp decline of prices, prices for went down sharply amid weak demand. In order to avoid selling prices lower than costs, ferromolybdenum producers didn't accept high prices for molybdenum concentrate. The supply of molybdenum concentrate was adequate but prices for molybdenum concentrate decreased as downstream clients promoted sales at low prices considering that ferromolybdenum bidding prices moved down amid continuously sluggish demand in molybdenum chemical industry and international molybdenum oxide flowed into China. Prices for sodium molybdate went down because of sluggish demand and decline of raw material prices. Prices for ammonium molybdate kept declining dragged by soft demand and decrease of raw material prices. Prices for molybdenum powder dropped sharply as raw material prices dropped and the operating rate was low in downstream molybdenum deep-processing industry. In light of soft downstream demand in catalyst industry and molybdenum deep-processing industry and decrease of raw material prices, prices for high-purity molybdenum oxide kept moving down. Prices for molybdenum bar edged down but prices for molybdenum wire and molybdenum rod maintained stable due to steady demand.
In March, the international molybdenum market saw continuous decrease of prices due to sluggish demand caused by COVID-19. Prices in Chinese molybdenum market kept declining dragged by muted downstream demand. Downstream molybdenum steel producers resolutely squeezed down on ferromolybdenum bidding prices due to high inventory and sharp decline of prices, prices for went down sharply amid weak demand. In order to avoid selling prices lower than costs, ferromolybdenum producers didn't accept high prices for molybdenum concentrate. The supply of molybdenum concentrate was adequate but prices for molybdenum concentrate decreased as downstream clients promoted sales at low prices considering that ferromolybdenum bidding prices moved down amid continuously sluggish demand in molybdenum chemical industry and international molybdenum oxide flowed into China. Prices for sodium molybdate went down because of sluggish demand and decline of raw material prices. Prices for ammonium molybdate kept declining dragged by soft demand and decrease of raw material prices. Prices for molybdenum powder dropped sharply as raw material prices dropped and the operating rate was low in downstream molybdenum deep-processing industry. In light of soft downstream demand in catalyst industry and molybdenum deep-processing industry and decrease of raw material prices, prices for high-purity molybdenum oxide kept moving down. Prices for molybdenum bar edged down but prices for molybdenum wire and molybdenum rod maintained stable due to steady demand.
