China Molybdenum Price - March 13, 2023

At the beginning of the week, China molybdenum price still moved downward mainly due to the poor enthusiasm of downstream users for inquiry and purchase and the weak international molybdenum market. 

It is worth mentioning that under the contradiction between the steel enterprises' pressure on price and the difficulty in purchasing low price goods, the intermediate smelting enterprises are faced with a greater risk of cost inversion. In addition, the two sessions are held, and the environmental protection policy is becoming stricter, which to a large extent strengthens the production suspension and maintenance plan of some ferromolybdenum manufacturers. At present, the price of molybdenum concentrate and molybdenum oxide both fell below 5000 yuan/mtu. 

News: According to the data of the China Iron and Steel Industry Association, in the late February 2023, the steel inventory of iron and steel enterprises was 17.419 million tons, a decrease of 2.1101 million tons or 10.80% compared with the previous ten days; An increase of 932900 tons or 5.66% over the same period last month; An increase of 4.3633 million tons or 33.42% over the end of last year; It increased by 1.3192 million tons or 8.19% over the same period last year.

Prices of molybdenum products on March 13, 2023

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Picture of molybdenum bar 

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