China Molybdenum Price - April 7, 2023

China molybdenum price rebounded in the week ended on Friday April 7, 2023 mainly due to the increased enthusiasm of downstream users for inquiries and purchases and the general increase in suppliers' awareness of profitability. 

The main reason for the increase in downstream demand is: the current price of molybdenum products has dropped significantly compared with the highest point in February, which has greatly increased the consumption desire of downstream users; in addition, with the downstream industries of molybdenum such as new energy, infrastructure and construction With the acceleration of development, the amount of molybdenum has also increased. However, the recent continuous weakening of steel prices is not conducive to the sharp rise in the price of molybdenum products, so investors should operate with caution.

According to Chinatungsten Online, compared with the highest point in February, the current price of molybdenum concentrate has dropped by about 46.43%, ferromolybdenum by about 47.37%, molybdenum oxide by about 45.42%, sodium molybdate by about 44.56%, ammonium tetramolybdate About 43.37%, ammonium heptamolybdate about 43.51%, molybdenum powder about 36.77%, molybdenum about 34.75%.

In terms of news: According to data from the China Iron and Steel Industry Association, in late March 2023, key statistical iron and steel enterprises produced a total of 24.868 million tons of crude steel, 22.0637 million tons of pig iron, and 24.9231 million tons of steel products. Among them, the daily output of crude steel was 2.2607 million tons, a month-on-month increase of 0.34%; the daily output of pig iron was 2.0058 million tons, a month-on-month increase of 2.08%; the daily output of steel products was 2.2657 million tons, a month-on-month increase of 6.01%.

Prices of molybdenum products on April 7, 2023

Picture of TZM bar 

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