China Molybdenum Price - December 9, 2022

China’s domestic molybdenum market showed a pattern of first stabilizing and then rising in the week ended on Friday December 9, 2022. At the beginning of the week, supported by tight supply of molybdenum raw materials and the acceptable price and quantity of steel tender, suppliers basically maintained firm quotations. 

However, as the weekend approached, driven by the sharp rise in international molybdenum prices, China molybdenum price also rose further. At present, the prices of domestic molybdenum concentrate, ferromolybdenum, ammonium heptamolybdate and molybdenum powder have risen to about 3,530 yuan/ton, 236,000 yuan/ton, 227,000 yuan/ton and 411 yuan/kg respectively; international molybdenum oxide is about 22 dollars/pound molybdenum, European ferromolybdenum is about $58/kg molybdenum.

According to Chinatungsten Online, due to factors such as the intensification of chaos in South Korea’s logistics supply chain, the approaching Christmas, the gradual optimization of global epidemic prevention and control measures, and the strong purchasing power of the US dollar before, the transaction volume and price of the international molybdenum market increased, which in turn drove the domestic molybdenum market. Product prices rise. Under such circumstances, the ten measures issued by China to optimize the prevention and control of the epidemic will also help the domestic molybdenum market to further heat up.

In terms of news: According to data from the China Iron and Steel Association, in late November 2022, the steel inventory of key steel companies was 15.3039 million tons, a decrease of 11.54% from the previous ten-day; a decrease of 7.10% from the end of last month (that is, the same ten-day of last month); At the end of the year, it increased by 35.47%; compared with the same period last year, it increased by 22.59%.

Prices of molybdenum products on December 9, 2022

Picture of molybdenum wire 

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