Molybdenum Powder Price - February 3, 2023

The overall China’s domestic molybdenum market is relatively optimistic this week, mainly reflected in the general surge in prices of molybdenum products, downstream demand and actual transaction volume. 

From the perspective of the time period, the price of molybdenum increased significantly at the beginning of the week, the highest increase in a single day, mainly due to the continuous soaring of overseas molybdenum prices and the increase in the bidding volume and price of steel companies after the festival; near the weekend, the increase in molybdenum prices slowed down slightly The slowdown is mainly due to the rapid and excessive price rise in the previous period, which has led to the increased wait-and-see sentiment of traders in recent days.

According to statistics from Chinatungsten Online, the price of molybdenum concentrate rose by about 950 yuan/ton, or 20.88% this week; ferromolybdenum rose by about 98,000 yuan/ton, or 32.45%; molybdenum oxide rose by about 1,000 yuan/ton, or 21.55%; sodium molybdate rose about 50,000 yuan/ton, or 24.75%; ammonium heptamolybdate rose about 75,000 yuan/ton, or 26.04%; molybdenum powder rose about 150 yuan/kg, or 28.30%.

According to Chinatungsten Online, steel companies that recently entered the market to bid for ferromolybdenum include Shandong Iron and Steel Group (300 tons), Baosteel Meishan Iron and Steel (30 tons), Sichuan Panchangte (60 tons), Dalian Special Steel (60 tons), Shougang Group (20 tons), etc.

From the perspective of the supply side, the current release of domestic molybdenum production capacity is relatively stable, while overseas molybdenum production has shrunk. In addition to the conflicts in Peru, a country with large molybdenum resources, which hinder logistics and transportation, the grade of overseas molybdenum mines has declined, which is also a molybdenum spot. The main reason for the difficulty in increasing the supply. From the perspective of demand, the demand for molybdenum has increased due to the rapid development of industries such as new energy vehicles, energy conservation and environmental protection.

Prices of molybdenum products on February 3, 2023

Picture of molybdenum sheet 

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