Molybdenum Powder Price - March 15, 2023

Details: Category: Tungsten's News; Published on Wednesday, 15 March 2023 18:59

China’s overall domestic molybdenum market is still showing a fluctuating and downward trend. Under the mutual influence of many positive and negative factors, buyers’ consumption is slightly more exhausted than before and after the Spring Festival.

Therefore, suppliers’ confidence in stabilizing prices is generally insufficient, mainly manifested in the prices of molybdenum oxide, ferromolybdenum and molybdenum powder dropping to around RMB 4,820/ton, RMB 310,000/ton and RMB 600/kg respectively.

According to Chinatungsten Online, the positive factors include: Recently, some steel companies are still willing to enter the market to bid for ferromolybdenum, such as Shougang Group 10 tons, Nanjing Iron and Steel New 400 tons, Henan Fengbao Special Steel 40 tons, Shanxi Taigang 30 tons, Hegang Group 110 tons, etc.; Molybdenum downstream industries such as military industry and photovoltaic industry have good development prospects. Negative factors include: molybdenum prices rose too sharply around the Spring Festival and most downstream users purchased in bulk at that time, which led to weak market demand in recent days; international molybdenum price support weakened.

In terms of news: According to data from the China Iron and Steel Industry Association, in the first ten days of March, the social inventory of five major varieties of steel in 21 cities was 13.25 million tons, a decrease of 2.4% from the previous month, an increase of 76.2% from the beginning of the year, and a decrease of 8.8% from the same period last year. In terms of regions, South China decreased by 7.2% month-on-month, Central China decreased by 6.5%; North China decreased by 4.2%, East China decreased by 2.6%; Northwest China was basically flat; Southwest China increased by 4.1%; Northeast China increased by 3.1%.

Prices of molybdenum products on March 15, 2023

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