Ferro Molybdenum Price - January 16, 2023

Molybdenum market quotation in China: ferro molybdenum price edges lower while molybdenum powder and oxide prices remain unchanged on January 16, 2023 with more and more participants are off duty for the holiday of Chinese Spring Festival. 

With the gradual weakening of favorable factors, the confidence of suppliers in raising prices has generally declined. However, supported by the low spot inventory in the market and production costs, the probability of a sharp drop in the price of molybdenum chemical products is not high. Recently, as the atmosphere of the Spring Festival has increased, the enthusiasm of steel companies to enter the bidding for ferromolybdenum has decreased.

News: According to customs data, in 2022, my country will import a total of 10.566 million tons of steel, a year-on-year decrease of 25.9%; and export a total of 67.323 million tons of steel, a year-on-year increase of 0.9%. Among them, the imported steel products in December were 700,000 tons, a month-on-month decrease of 6.9%; the average price was US$1,715.3/ton, a month-on-month decrease of 1.4%. In December, 5.401 million tons of steel products were exported, a month-on-month decrease of 3.4%; the average price was US$1362.8/ton, a month-on-month increase of 3.6%.

Prices of molybdenum products on January 16, 2023

Picture of polished molybdenum rod

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