China’s Domestic Molybdenum Market - February 1, 2023

The overall China’s domestic molybdenum market continues to be strong at the beginning of February 2023. Although the price of molybdenum products has risen sharply last month, some industry players have become more worried about the market outlook, and they mainly wait and see the market. 

Supported by the tendering of ferromolybdenum and the continuous heating up of the international molybdenum market, domestic suppliers are strongly motivated to speculate, and the prices of molybdenum concentrate and ferromolybdenum are likely to advance towards 5,500 yuan/mtu and 400,000 yuan/ton.

According to Chinatungsten Online, despite the New Year's Day and Spring Festival holidays in January, the total amount of ferro-molybdenum still exceeded 10,000 tons. On January 31, the steel enterprises that entered the bidding for ferromolybdenum included Baosteel Co., Ltd. (120 tons), Maanshan Iron and Steel (90 tons), Gansu Jiugang (30 tons), Nangang (180 tons), and Hegang Group (153 tons), etc.

The main reasons for the shortage of domestic molybdenum spot supply are: many molybdenum holders shipped before the Spring Festival; during the Spring Festival, the production capacity of molybdenum manufacturers slowed down; The temperature is rising; driven by the good development of military industry, photovoltaic, new energy and other industries, the demand for molybdenum in the downstream and terminal has increased.

The main reason for the rise in the international molybdenum price is that since the outbreak of the epidemic, the demand for overseas molybdenum has been slightly weak, and the holders basically focus on destocking. The performance was stronger than expected and energy prices fell. The resumption rate of overseas molybdenum downstream manufacturers gradually increased. Overlapping with the decline of related molybdenum production capacity in South America, the world's major molybdenum production area, the overall supply and demand pattern of the market changed, which stimulated the international molybdenum price to rise sharply and to the domestic market. conduction.

Prices of molybdenum products on February 1, 2023

China molybdenum price photo

Picture of TZM bar 

TZM bar photo

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