Molybdenum Powder Price – March 17, 2023

The overall situation of the domestic molybdenum market is not good in the week ended on Friday March 17, 2023, mainly manifested in the fact that the prices of most molybdenum products have been falling all the way, falling to the price before the Spring Festival, and the actual transaction speed is relatively slow. 

This week, in order to reduce the risk of cost inversion faced by ferromolybdenum manufacturers, the price of molybdenum concentrate and molybdenum oxide fell faster than last week, while the price support of molybdenum raw materials gradually weakened, and the quotations of molybdenum chemicals and their products were also rationally lowered.

According to Chinatungsten Online, the price of ferromolybdenum dropped by about 28,000 yuan/ton this week, a drop of 8.67%; the price of molybdenum concentrate dropped by about 640 yuan/ton, a drop of 12.67%; ammonium molybdate dropped by about 33,000 yuan/ton, a drop of 10.06%; molybdenum powder dropped by about 40 yuan/kg, a drop of 6.45%; molybdenum oxide dropped by about 640 yuan/ton, a drop of 12.43%.

From the perspective of the supply side, the convening of the two sessions and the strengthening of environmental protection efforts are the main reasons for the limited production of some molybdenum manufacturers. Coupled with the current poor market conditions, the production speed of many molybdenum manufacturers has slowed down. In addition, the international molybdenum price is not low, resulting in a small import of molybdenum raw materials in China, which also affects the spot supply in the market to a large extent. 

From the perspective of demand, the current molybdenum price is still at a relatively high level and the recent steel bidding price is lower than expected, which are the main factors that lead to the decline in the enthusiasm of downstream users to enter the market.

News: According to data from the China Iron and Steel Industry Association, in the first ten days of March 2023, the steel inventory of key steel companies was 17.7041 million tons, an increase of 284,300 tons or 1.63% over the previous ten days; a decrease of 325,400 tons over the same period last month, A decrease of 1.8%; an increase of 4.6476 million tons over the end of last year, an increase of 35.6%; an increase of 1.0222 million tons over the same ten days of last year, an increase of 6.13%.

Prices of molybdenum products on March 17, 2023

Picture of molybdenum wire 

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