Sodium Molybdate Price - December 21, 2022

China molybdenum price continues to hit record high on December 21, 2022, and with the weaker confidence of suppliers, the increase pace slows down. The current prices of molybdenum concentrate, ferromolybdenum and sodium molybdate are consolidating at 3,940 yuan/mtu and 268,000 yuan/ton and 175,000 yuan/ton, respectively. 

According to Chinatungsten Online, the main positive factors are: first, the current tight supply of molybdenum raw materials has not been resolved; second, the demand from steel companies and end customers is acceptable. The main negative factors are: first, the cooling of the international molybdenum market is unfavorable to the rise of the domestic molybdenum price; second, the sharp increase in the previous molybdenum price and limited liquidity have led to increased hesitation in consumption by some downstream users.

In terms of news: According to data from the China Iron and Steel Industry Association, in the first ten days of December, the social inventory of five major varieties of steel in 21 cities was 7.35 million tons, a decrease of 0.5% from the previous month, a decrease of 6.7% from the beginning of the year, and a decrease of 12.6% from the same period last year. In terms of regions, the inventory in East China decreased by 2.0% month-on-month, in Central China by 3.8%, in Northeast China by 6.5%, in Northwest China by 2.6%, in North China by 3.4%, and in South China by 1.7%.

Prices of molybdenum products on December 21, 2022

Picture of molybdenum boat 

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