Molybdenum Price Trend

◼ Before 2008, China's sustained and rapid economic development to pull the steel industry demand, molybdenum prices all the way strong, the highest climbed to 6250 yuan / tonne, after the stainless steel plant production cuts and molybdenum concentrate supply increase and other reasons, molybdenum prices at the end of 2005 downward adjustments in 2006-2008, basically in the 4000 yuan / tonne degree oscillation. ◼ 2008, by the financial crisis panic factors, the international molybdenum market demand deteriorated rapidly, the major steel mills have canceled orders, easy to business forced to cash profits continue to sharply lower the selling price, molybdenum prices are therefore falling. ◼ 2009-2016, the global economy is in a downward cycle, molybdenum prices have rebounded but the overall still maintain a downward trend. ◼ 2017-2021, prices oscillated slowly. After 08-16 years of sharp decline, the domestic iron and steel industry boom reversed to good, ferromolybdenum prices gradually strengthened, many times ushered in the jump, but the overall rise is not obvious, still remain at a low level. ◼ 2022 supply-demand imbalance, molybdenum prices hit a new high in nearly 17 years. 22 years from the March quarter, molybdenum prices climbed all the way up, and has continued to mid-February 2023, up to 5,570 yuan / tonne per degree, hitting a new high in nearly 17 years, the reasons for this include the overseas due to the decline in the grade of copper and the public events and other factors such as the impact of the decline in production, the domestic likewise due to the power limitation and other factors such as the reduction of production, demand End wind power, photovoltaic, automotive industry boom upward, manufacturing upgrading driven by high value-added alloy steel accounted for an increase in molybdenum prices continue to rise.