China Molybdenum Price - March 6, 2023

At the beginning of the week, China molybdenum price continues to move down significantly, mainly due to the long-term surge in the price of molybdenum products in the early stage, and the recent poor performance of the steel bidding market and the international molybdenum market. 

In the case of many steel companies delaying their bids for ferromolybdenum and suppressing prices, the quotations of intermediate smelting companies have basically been rationally lowered. Under the influence of the decline in the price of ferromolybdenum, molybdenum mining companies generally lack confidence in price stabilization. The quotations of molybdenum concentrate and molybdenum oxide dropped to about 5,050 yuan/mtu and 5,150 yuan/mtu respectively.

In terms of news: According to data from the China Iron and Steel Industry Association: in January 2023, the production of medium and heavy plate rolling mills was 5.83 million tons, a year-on-year increase of 4.1%; A year-on-year decrease of 5.1%. In January 2023, the daily output of medium and heavy plate rolling mills was 188,000 tons, an increase of 3.9% month-on-month and a year-on-year increase of 4.1%; It increased by 0.5% month-on-month and decreased by 5.1% year-on-year.

Prices of molybdenum products on March 6, 2023

China molybdenum price image

Picture of black TZM rod 

black TZM rod image

Follow our WeChat to know the latest molybdenum price, information and market analysis.