Molybdenum Powder Price - March 8, 2023

China’s ferro molybdenum, molybdenum powder and oxide prices stop declining and remain stable on March 8, 2023. As steel companies successively enter the market to bid for ferromolybdenum and the current price of molybdenum raw materials has dropped significantly compared with the beginning of last month, the market inquiry and purchase activity has slightly increased and investors are more optimistic about the market outlook.

According to Chinatungsten Online, the main reason for the increase in the steel recruitment market is that many steel companies have low enthusiasm for stocking in February, so some molybdenum raw material stocks have been less recently, and the recent sharp drop in the price of ferromolybdenum has made it more profitable. Arouse consumers' desire to purchase; with the convening of the National Two Sessions and the introduction of a number of favorable policies for industrial economy and infrastructure projects, coupled with the Ministry of Finance and the Central Bank's efforts to improve efficiency, it has played a positive role in heating up the steel market. However, there are still negative factors in the market such as strict control of steel production capacity in many places, so participants should invest cautiously.

Recently, the steel companies that entered the bidding for ferromolybdenum include Shougang Group (30 tons), Valin Hengyang Iron and Steel (120 tons), Baosteel Wuhan Iron and Steel (25 tons), Valin Xiangyang Iron and Steel (60 tons), CITIC Pacific, Tianjin Pipe and Huai Steel Steel special steel etc.

In terms of news: "Hebei Province Pollution Reduction and Carbon Reduction Synergistic Efficiency Implementation Plan" proposes to speed up the relocation, renovation or closure of heavily polluting enterprises in urban built-up areas in accordance with the law; it is strictly forbidden to increase steel and other production capacity in violation of regulations. By 2025, all steel enterprises in the province will meet environmental protection standards. A-level performance, and the production capacity with energy efficiency reaching the benchmark level strives to reach 30%.

Prices of molybdenum products on March 8, 2023

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