Monthly Molybdenum Market Report May 2022
2022-06-12 13:52:21 【Print】
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1. Market Highlights
In May, due to the negative influence of COVID-19 control in China, stainless steel prices stayed weak due to the soft demand from terminal users and couldn't offer any effective support for molybdenum price. As ferromolybdenum market inventory stayed at a much high level, producers had to drop their prices to promote sales and molybdenum raw material market prices moved down accordingly. Most molybdenum chemical buyers held watching attitude and producers had to drop their prices to promote sales. The whole molybdenum market mentality stayed weak.
In international molybdenum market, due to the energy crisis in Europe caused by the conflict between Russia and Ukraine, many steel mills reduced molybdenum consumption. Molybdenum prices couldn't get effective support from terminal users and prices kept moving down gradually. At the same time, some suppliers chose to clear their inventory in advance due to the coming Summer Holidays, which made prices keep dropping. Most insiders held watching attitude.
In May, due to the negative influence of COVID-19 control in China, stainless steel prices stayed weak due to the soft demand from terminal users and couldn't offer any effective support for molybdenum price. As ferromolybdenum market inventory stayed at a much high level, producers had to drop their prices to promote sales and molybdenum raw material market prices moved down accordingly. Most molybdenum chemical buyers held watching attitude and producers had to drop their prices to promote sales. The whole molybdenum market mentality stayed weak.
In international molybdenum market, due to the energy crisis in Europe caused by the conflict between Russia and Ukraine, many steel mills reduced molybdenum consumption. Molybdenum prices couldn't get effective support from terminal users and prices kept moving down gradually. At the same time, some suppliers chose to clear their inventory in advance due to the coming Summer Holidays, which made prices keep dropping. Most insiders held watching attitude.
