Molybdenum Concentrate Price - March 20, 2023

At the beginning of the week, China’s domestic molybdenum prices still moved down slightly. The prices of ferromolybdenum and molybdenum concentrate dropped to about 290,000 yuan/ton and 4,400 yuan/mtu respectively, while the month-on-month decreases were 22.67% and 21.43% respectively. 

However, under the mutual influence of factors such as the sharp drop in the price of molybdenum raw materials and the tight spot supply in the market, the enthusiasm of downstream users to inquire and purchase has increased. Recently, the steel companies that entered the bidding for ferromolybdenum include Hunan Henggang 30 tons, CITIC Pacific, Shanxi Taigang 60 tons, Shougang Group 10 tons, Shandong Juneng Special Steel 10 tons, Xinyu Iron and Steel, Hengyang Valin Steel, etc.

News: According to data released by the National Bureau of Statistics, from January to February 2023, China's crude steel output was 168.7 million tons, a year-on-year increase of 5.6%; pig iron output was 144.26 million tons, a year-on-year increase of 7.3%; steel output was 206.23 million tons , an increase of 3.6% year-on-year. Among them, key statistical iron and steel enterprises produced 130.7584 million tons of crude steel, an increase of 8.25% year-on-year; 117.9124 million tons of pig iron, an increase of 11.26% year-on-year; and 126.6028 million tons of steel products, an increase of 8.35% year-on-year.

Prices of molybdenum products on March 20, 2023

Picture of molybdenum sheet 

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