Sodium Molybdate Price - July 4, 2022

At the beginning of the week, the overall domestic molybdenum market was still weak. Affected by the decline in the number of ferro molybdenum tendered by steel companies and the tender price, many suppliers of molybdenum raw materials lowered their quotations. Ferro molybdenum price fell below 180,000 yuan/ton. 

Against this background, molybdenum chemical companies lacked confidence in firm quotations. Therefore, the prices of ammonium heptamolybdate and sodium molybdate dropped slightly to around RMB 181,000/ton and RMB 128,000/ton, respectively.

In terms of news: The PMI data of the steel industry released by the China Federation of Materials and Steel Logistics Professional Committee shows that in June 2022, it was 36.2%, a month-on-month decrease of 4.6 percentage points. Among them, the production index in June was 34.1%, down 8.6 percentage points from the previous month; the new orders index was 25.9%, down 6.5 percentage points from the previous month; the purchase price index was 29.7%, down 5.9 percentage points from the previous month; the finished product inventory index was 48% , down 1.90 percentage points from the previous month; the raw material inventory index was 36.90%, an increase of 0.30 percentage points from the previous month; the new export order index was 47.10%, an increase of 6.20 percentage points from the previous month.

Prices of molybdenum products on July 4, 2022

Picture of molybdenum foil 

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