China Molybdenum Market - April 21, 2023

This week, China molybdenum market showed a pattern of first decline and then rise. Affected by the limited rise in steel prices and the strong sentiment of steel companies to suppress prices at the beginning of the week, the overall center of gravity of molybdenum product prices still moved down slightly.

In addition to strengthening and international molybdenum oxide and European ferromolybdenum prices continue to rise, the May Day holiday is approaching, and steel companies are more active in stocking up, which is also one of the important reasons why the price of molybdenum raw materials has stopped falling and rebounded recently.

According to Chinatungsten Online, the price of ferromolybdenum fell by about 3,000 yuan/ton this week, a decrease of 1.54%, while the lowest price was 185,000 yuan/ton; molybdenum concentrate rose by about 50 yuan/ton, an increase of 1.85%, and the lowest price was 2,600 yuan /ton degree; sodium molybdate did not fluctuate; ammonium heptamolybdate decreased by about 5,000 yuan/ton, a decrease of 2.55%; molybdenum powder decreased by about 10 yuan/kg, a decrease of 2.63%; %, while the lowest price is 2,700 yuan/ton degree.

It can be seen that the decline in the price of molybdenum products this week was significantly smaller than that in the previous few weeks, and there was also a rise. Generally speaking, the molybdenum market has improved slightly near the weekend, which is mainly reflected in the general increase of suppliers' quotations and active transactions. Up to now, the total amount of steel molybdenum ferromolybdenum has exceeded 6,000 tons in April.

News: According to data from the National Bureau of Statistics, from January to March 2023, China's steel bar output was 57.16 million tons, a year-on-year increase of 1.6%; the output of medium-thick and wide steel strips was 49.144 million tons, a year-on-year increase of 9.7%; The output was 3520.7 tons, a year-on-year increase of 7.9%. Among them, in March, the output of steel bars was 23.284 million tons, a year-on-year increase of 12.1%; the output of medium-thick and wide steel strips was 17.355 million tons, a year-on-year increase of 6.5%; the output of wire rods (wire rods) was 13.533 million tons, a year-on-year increase of 9.7%.

Prices of molybdenum products on April 21, 2023

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