China Molybdenum Price - March 10, 2023

China molybdenum price showed a downward trend in the week ended on Friday, March 10, 2023. 

Under the mutual influence of factors such as the tight supply of molybdenum raw materials, strong sentiments of steel companies to suppress prices, and a slight increase in the enthusiasm of downstream users for inquiries and purchases, the quotations of traders were relatively chaotic, but they were lowered. The range has narrowed compared with last week, and the actual trading volume has increased compared with last week.

According to Chinatungsten Online, the price of ferromolybdenum dropped by about 7,000 yuan/ton this week, a drop of 2.12%; molybdenum concentrate dropped by about 120 yuan/ton, a drop of 2.32%; Ammonium molybdate dropped about 13,000 yuan/ton, a drop of 3.81%; molybdenum powder dropped about 30 yuan/kg, a drop of 4.62%; molybdenum oxide dropped about 120 yuan/ton, a drop of 2.28%.

It can be seen that the drop in the price of molybdenum raw materials this week is smaller than that of molybdenum chemicals and their products, which is mainly due to the fact that the purchasing status of end customers has not improved and the cost support ability has declined.

In terms of news: According to data from the China Iron and Steel Industry Association, in late February 2023, key statistical iron and steel enterprises produced a total of 17.7616 million tons of crude steel, 16.0216 million tons of pig iron, and 18.0788 million tons of steel. Among them, the daily output of crude steel was 2.2202 million tons, a month-on-month increase of 6.09%; the daily output of pig iron was 2.0027 million tons, a month-on-month increase of 5.59%; the daily output of steel products was 2.2598 million tons, a month-on-month increase of 10.01%.

Prices of molybdenum products on March 10, 2023

Picture of molybdenum plug 

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