Ferromolybdenum Price - April 24, 2023

Chinese molybdenum market maintains a relatively strong operation at the beginning of the week. 

Although the price of some steel products has been slightly lowered and the price of some stainless steel has risen again, it has encountered greater resistance, but it still affects the confidence of molybdenum suppliers to continue to speculate. This is mainly attributable to the recent rise in steel prices and the acceptable market conditions in the international molybdenum market.

It is worth mentioning that, when the price of molybdenum has risen sharply in a short period of time, investors should operate more cautiously and pay close attention to market changes. Currently, the prices of molybdenum concentrate and ferromolybdenum have been raised to about 3,000 yuan/ton and 200,000 yuan/ton respectively.

In terms of news: According to data from the World Steel Association, in March 2023, the total crude steel output of the 63 countries and regions included in the organization's statistics was 165.1 million tons, a year-on-year increase of 1.7%, and the first positive growth since October 2022. Among them, China's crude steel output was 95.73 million tons, a year-on-year increase of 6.9%; India's 11.4 million tons, a year-on-year increase of 2.7%; Japan's 7.5 million tons, a year-on-year decrease of 5.9%.

Prices of molybdenum products on April 24, 2023

Picture of black TZM rod 

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