China Molybdenum Price - February 10, 2023

China molybdenum price stabilized in the week ended on Friday February 10, 2023. Under the weak supply and demand, the enthusiasm of traders to enter the market was significantly lower than that before and after the Spring Festival. 

Therefore, the buying and selling atmosphere in the market was sluggish, molybdenum prices were in a dilemma, and there were fewer new orders.

On the supply side: although molybdenum production enterprises have basically maintained normal production status recently, there is not much spot inventory in the market. The prices of some products are still slightly higher than domestic prices, so it is not good for the import market to heat up.

In terms of demand: as the current molybdenum price is still at a high level, downstream users have a strong risk aversion sentiment, and the current downstream users have a certain amount of raw material inventory, and they are not in a hurry to purchase, which will lead to a decrease in market demand; in the long run, as manufacturing With the optimization and upgrading of industry and the maturity of science and technology, the application range and dosage of molybdenum will increase accordingly.

News: According to data from the China Iron and Steel Industry Association, in 2022, the total water consumption of key statistical iron and steel enterprises will be 92 billion cubic meters, a year-on-year increase of 1.2%; the water reuse rate will be 98.2%, a year-on-year increase of 0.1 percentage points; the amount of new water taken will decrease by 3.2% year-on-year , fresh water consumption per ton of steel decreased by 0.7% year-on-year; the total amount of discharged waste water decreased by 23% year-on-year. The production of steel slag was 89.11 million tons, a year-on-year decrease of 2.0%; the production of blast furnace slag was 230.39 million tons, a year-on-year decrease of 1.1%; the utilization rate of steel slag was 98.6%, a year-on-year decrease of 0.5 percentage points.

Prices of molybdenum products on February 10, 2023

Picture of TZC piercing plug

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