Sodium Molybdate Price – April 26, 2023

China’s sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices move up significantly, mainly due to the simultaneous rise in steel bidding prices, which has prompted suppliers to raise prices and speculate strongly. 

Under this situation, the supply of low-priced goods in the market has gradually decreased. However, it should be noted that after the product price has continued to jump sharply, it is also prone to a rapid decline, because in order to obtain more profits, manufacturers generally increase production speed, and consumers' enthusiasm for inquiries and purchases will increase. Weakening, which in turn leads to an acceleration of the growth rate of the market's spot inventory, which is not conducive to the price's re-exploration. In the short term, the industry should focus on the performance of steel bidding prices and the supply of molybdenum raw materials.

According to Chinatungsten Online, factors affecting the current molybdenum market trend include changes in the relationship between supply and demand, and the international molybdenum price has been hindered from rising again, which is also unfavorable for the domestic molybdenum market to heat up. Recently, the steel companies that entered the bidding for ferromolybdenum include Shanxi Taigang, Baowu Egang, Fushun Special Steel, Huaigang Special Steel, Shougang Co., Ltd., Shouguang Juneng Special Steel and Anshan Iron and Steel Co., Ltd.; among them, Shanxi Taigang has a bidding volume of 60 tons , the bidding price is 205,000 yuan/ton.

In terms of news: According to the World Iron and Steel Association, from January to March 2023, the overall production and operation situation of iron and steel enterprises will be better month-on-month. . Since there are still many uncertainties in the steel market, the industry expects that steel prices will generally show a weak and volatile trend in the second quarter and the second half of the year.

Prices of molybdenum products on April 26, 2023

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