Molybdenum Oxide Price - April 6, 2023

China’s domestic molybdenum market showed a pattern of stabilization and recovery on April 6, 2023. Under the background of the gradual strengthening of production cost support and the increasing enthusiasm of downstream users for inquiries and purchases, many suppliers tentatively raised their quotations.

According to Chinatungsten Online, the current prices of ferromolybdenum, molybdenum concentrate and molybdenum oxide have risen to about 207,000 yuan/ton, 3,050 yuan/mtu and 3,150 yuan/mtu respectively.

The main reasons for the recent increase in the demand for molybdenum in the market are: warmer weather, higher construction and infrastructure construction rates, and increased steel consumption, coupled with the current low price of molybdenum products, which can stimulate steel companies to enter the market for consumption desire.

It is worth mentioning that in March, the total amount of ferromolybdenum steel recruited exceeded 10,000 tons, and April is still worth looking forward to. The price drop of molybdenum products in China in March was quite terrible. Molybdenum concentrate fell from 5,420 yuan/ton to about 3,000 yuan/ton, a drop of 44.65%; molybdenum oxide fell from 5,600 yuan/ton to 3,100 yuan/ton, a drop of 44.64% %; ferromolybdenum fell from 345,000 yuan/ton to 200,000 yuan/ton, a drop of 42.03%; the price of sodium molybdate fell from 245,000 yuan/ton to 143,000 yuan/ton, a drop of 41.63%; the price of ammonium tetramolybdate dropped from 352,000 yuan /ton fell to about 212,000 yuan/ton, a drop of 39.77%; ammonium heptamolybdate fell from 357,000 yuan/ton to about 217,000 yuan/ton, a drop of 39.22%; molybdenum powder fell from 668 yuan/kg to 440 yuan/kg, a drop of 34.13%; molybdenum bars fell from 695 yuan/kg to around 480 yuan/kg, a drop of 30.94%.

In terms of news: According to data from the China Iron and Steel Industry 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%; A year-on-year decrease of 2.5%. In February 2023, the daily output of medium and heavy plate rolling mills was 195,000 tons, a month-on-month increase of 3.5%, and a year-on-year increase of 10.6%; It increased by 4.9% month-on-month and decreased by 2.5% year-on-year.

Prices of molybdenum products on April 6, 2023

Picture of molybdenum boat 

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