Sodium Molybdate Prices - April 19, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices continue to decline on April 19, 2023. The enthusiasm of downstream users to enter the market for inquiries and purchases and the awareness of suppliers to insist on quotations have all increased, so the actual production volume is still acceptable.

According to Chinatungsten Online, the main reason for the increase in market demand is that the current price of molybdenum products is at a low level, and the price of stainless steel is strong, which encourages many stainless steel factories to speed up production. On April 19th, steel companies entering the bidding for ferromolybdenum include Shougang Group 20 tons, bidding price 178,000 yuan/ton; Shandong Iron and Steel Group 140 tons, delivery before April 30; Tsingshan Group bidding price 171,800 yuan/ton, delivery before May 20.

Factors such as the increase in market demand, the rising trend of international molybdenum prices, and the strengthening of production cost support have largely supported the confidence of holders in holding prices.

News: According to data from the National Bureau of Statistics, in the first quarter of 2023, my country's steel output was 261.56 million tons, a year-on-year increase of 6.1%; pig iron output was 219.83 million tons, a year-on-year increase of 7.6%; Among them, in March, my country's steel output was 95.73 million tons, a year-on-year increase of 6.9%; pig iron output was 78.07 million tons, a year-on-year increase of 7.3%; steel output was 127.25 million tons, a year-on-year increase of 8.1%.

Prices of molybdenum products on April 19, 2023

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