Molybdenum Concentrate Price - January 9, 2023

At the beginning of the week, the domestic molybdenum market as a whole continued the rised trend last week. Before the Spring Festival holiday, downstream users generally had a high willingness to receive goods. 

In addition, the problem of insufficient spot supply of molybdenum raw materials has not been resolved, and most of the holders are still bullish. However, with the current price of molybdenum products at a relatively high level and in order to realize cash, there are still many suppliers willing to ship. Currently, the transaction prices of molybdenum concentrate and ferromolybdenum are around RMB 4,440/ton and RMB 305,000/ton respectively.

In terms of news: the vice president of the China Iron and Steel Industry Association said that from January to November 2022, China's crude steel output will be 935 million tons, a year-on-year decrease of 13.28 million tons, or 1.4%. In addition, the China Iron and Steel Association predicts that China's crude steel output will be about 1.01 billion tons in 2022, a year-on-year decrease of 23 million tons, or a decrease of 2.2%, steel demand is expected to recover.

Prices of molybdenum products on January 9, 2023

Picture of molybdenum powder

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