Ammonium Molybdate Price - February 27, 2023

At the beginning of the week, China’s domestic molybdenum market was still weak. The price of sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices decline slightly. 

Although supported by the difficulty in increasing the spot inventory of molybdenum raw materials and production costs, most molybdenum mining companies still have a strong sense of firm quotations, mainly reflected in the temporary stability of the prices of molybdenum concentrate and molybdenum oxide. 

However, affected by factors such as the lukewarm international molybdenum market, the hard-to-improvement situation of end-customers who just need to purchase, the slow speed of steel companies entering the market for ferromolybdenum bidding, and their strong sentiment to suppress prices , the prices of ferromolybdenum and molybdate products have been lowered to a certain extent.

In terms of news: According to data from the China Iron and Steel Industry Association, in mid-February 2023, key statistical iron and steel enterprises produced a total of 20.9283 million tons of crude steel, 18.9666 million tons of pig iron, and 20.5413 million tons of steel products. Among them, the daily output of crude steel was 2.0928 million tons, a month-on-month increase of 1.49%; the daily output of pig iron was 1.8967 million tons, a month-on-month increase of 0.28%; the daily output of steel products was 2.0541 million tons, a month-on-month increase of 6.24%.

Prices of molybdenum products on February 27, 2023

Picture of black TZM rod 

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