Monthly Molybdenum Market Report Apr 2020
2020-05-14 17:39:01 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
In April, as the pandemic spread in the international market, some foreign molybdenum suppliers halted production to prevent and control COVID-19 and the supply of overseas molybdenum oxide decreased. Besides, large molybdenum mines in China suspended production, so overseas molybdenum oxide suppliers held back from selling and prices for the material increased. In late March, a large Heilongjiang-based mine suspended production due to the leak of tailing ponds and cannot decide when to resume production, which caused the decline of molybdenum concentrate supply in China. Chinese molybdenum concentrate suppliers were apparent to hold back from selling. Prices for molybdenum concentrate moved up in late April. Steel mills invited bids to purchase about 11,000t of ferromolybdenum in China in April. As the volume was high, the supply of spot ferromolybdenum tightened. At the same time, prices for raw material molybdenum concentrate increased, so ferromolybdenum prices rose accordingly. Supported by the increase of molybdenum concentrate production cost, although downstream molybdenum chemical industry saw weak demand, suppliers of ammonium molybdate, high-purity molybdenum oxide and sodium molybdate raised their selling prices accordingly. As downstream molybdenum deep-processing industry kept low operating rates with dim demand, consumers only made purchases based on orders and prices for molybdenum powder were relatively stable. Prices for molybdenum bar edged down but prices for molybdenum wire and molybdenum rod maintained stable due to steady demand.
In April, as the pandemic spread in the international market, some foreign molybdenum suppliers halted production to prevent and control COVID-19 and the supply of overseas molybdenum oxide decreased. Besides, large molybdenum mines in China suspended production, so overseas molybdenum oxide suppliers held back from selling and prices for the material increased. In late March, a large Heilongjiang-based mine suspended production due to the leak of tailing ponds and cannot decide when to resume production, which caused the decline of molybdenum concentrate supply in China. Chinese molybdenum concentrate suppliers were apparent to hold back from selling. Prices for molybdenum concentrate moved up in late April. Steel mills invited bids to purchase about 11,000t of ferromolybdenum in China in April. As the volume was high, the supply of spot ferromolybdenum tightened. At the same time, prices for raw material molybdenum concentrate increased, so ferromolybdenum prices rose accordingly. Supported by the increase of molybdenum concentrate production cost, although downstream molybdenum chemical industry saw weak demand, suppliers of ammonium molybdate, high-purity molybdenum oxide and sodium molybdate raised their selling prices accordingly. As downstream molybdenum deep-processing industry kept low operating rates with dim demand, consumers only made purchases based on orders and prices for molybdenum powder were relatively stable. Prices for molybdenum bar edged down but prices for molybdenum wire and molybdenum rod maintained stable due to steady demand.
