Sodium Molybdate Price - March 29, 2023

The overall performance of the Chinese molybdenum market is still poor on March 29, 2023, which is mainly reflected in the fact that the prices of many molybdenum products are still falling and the actual transaction volume is lower than expected. 

However, due to the relatively good support of production costs and the development of molybdenum downstream industries, the rate of supplier quotation reduction has slowed down. In addition, when the current molybdenum price has dropped significantly compared with the price in the middle and early February, downstream users have increased their inquiry initiative. Currently, the prices of molybdenum oxide, sodium molybdate and molybdenum powder are about 3,390 yuan/ton, 158,000 yuan/ton and 480 yuan/kg respectively.

In terms of news: According to data from the China Iron and Steel Association, in February 2023, the production of medium and heavy plate rolling mills was 5.45 million tons, a year-on-year increase of 10.5%; down 2.5%. In February 2023, the daily output of medium and heavy plate rolling mills was 195,000 tons, a year-on-year increase of 10.6%; the daily output of hot continuous rolling mills was 539,000 tons, a year-on-year increase of 2.2%; the daily output of cold continuous rolling mills was 214,000 tons, a year-on-year decrease of 2.5%.

Prices of molybdenum products on March 29, 2023

Picture of molybdenum wire

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