Chinese Molybdenum Market - February 15, 2023

Details: Category: Tungsten's News; Published on Thursday, 16 February 2023 09:17

Chinese molybdenum market still keeps strong on February 15, 2023 because traders are slightly more motivated to enter the market under the mutual influence of positive and negative factors, which makes some holders more confident in raising prices.

The main positive factors are as follows: first, the international molybdenum price bottomed out and rebounded, which played a role in boosting the temperature rise of the domestic molybdenum market; Under the situation that industries such as military industry and energy-saving and environmental protection industries are developing well, the initiative of downstream users to inquire is slightly increased. On February 14, the steel enterprises that entered the bidding for ferromolybdenum include Shougang, China First Heavy Industry, Jiangsu Shagang, Dalian Special Steel, etc.

The main negative factors are as follows: First, the current prices of molybdenum concentrates, ferromolybdenum, molybdenum oxide and other molybdenum products are still at a relatively high level, so most buyers are still fearful of heights. In order to avoid the risk of cost inversion, they mainly focus on rigid demand; Second, the performance of the stainless steel market and the steel market is not good, which is not conducive to the increase of molybdenum price.

In terms of news: According to the China Iron and Steel Industry Association, the overall operation of China's steel industry will be stable in 2022: first, steel production will decline year-on-year, and consumption intensity will weaken; Exports were basically flat year-on-year, and imports fell significantly; fourth, steel prices changed from rising to falling, and fuel costs rose significantly; fifth, corporate profits fell year-on-year, and the asset-liability ratio increased slightly; sixth, the investment structure of fixed assets continued to optimize, and research and development expenses Continue to increase; Seventh, various environmental protection indicators continue to improve, and the unit energy consumption indicator has increased slightly.

Prices of molybdenum products on February 15, 2023

Chinese molybdenum market image