Molybdenum Powder Price – May 10, 2023

The overall domestic molybdenum market presents a stable and weak pattern on May 10, 2023. Affected by the weakening support of favorable factors, the confidence of many suppliers in stabilizing prices is slightly insufficient. 

The prices of molybdenum concentrate, ferromolybdenum and molybdenum powder dropped to about 3,340 yuan/ton, 232,000 yuan/ton and 453 yuan/kg respectively. Against this background, some industry players' confidence in the market outlook has declined, but at the same time it has also stimulated the desire of downstream users to enter the market for consumption.

In the molybdenum concentrate market, the buying and selling atmosphere in the market is average. Under the circumstances that the enthusiasm of downstream users to make inquiries and purchases is still strong and the sentiment of lowering prices is strong, some molybdenum suppliers are willing to reduce prices for shipments, but the reduction is limited. In the ferromolybdenum market, the overall activity is relatively high. Steel companies that recently entered the market for bidding for ferromolybdenum include Tsingshan Holding Group, Hengyang Valin Steel Pipe and Xinyu Iron and Steel. In the market of molybdenum chemical and its products, the general wait-and-see mood is strong, mainly because end customers basically maintain rigid demand purchases, while holders are generally less willing to sell at lower prices.

News: Customs data show that in April 2023, my country imported 585,000 tons of steel, a month-on-month decrease of 14.2%, while the average price was US$1,768.5/ton, a month-on-month decrease of 6.5%; imported iron ore was 90.442 million tons, a month-on-month decrease of 9.8%, while The average price is 120.5 US dollars / ton, an increase of 2.4% from the previous month. In April 2023, my country exported 7.932 million tons of steel products, a month-on-month increase of 0.5%, while the average price was US$1,097.5/ton, a month-on-month decrease of 15.2%.

Prices of molybdenum products on May 10, 2023

Picture of molybdenum tube 

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