China Molybdenum Price - May 12, 2023

China molybdenum price showed a downward trend as a whole in the week ended on Friday, May 12, 2023, mainly due to the strong sentiment of buyers to suppress prices, the strong awareness of many suppliers to take profits, and the limited driving ability of the international molybdenum market. 

It is worth mentioning that due to the support of production costs and raw material spot inventory, there is little room for suppliers to make profit. In addition, under the stimulus of weaker prices, downstream users have also increased their enthusiasm for entering the market for inquiries and purchases, so the transaction is acceptable.

According to Chinatungsten Online, the main reasons for buyers’ strong price depression are: the price of molybdenum products in the early stage has risen too much in a short period of time, which has led to a strong fear of heights among downstream users, which has not completely subsided; To a large extent, it has aggravated the price suppression sentiment of steel production enterprises on the price of ferromolybdenum; the current international molybdenum price is not high, which is beneficial to the increase in my country's molybdenum raw material imports, which is also one of the important factors affecting the current quotation of molybdenum products.

In terms of news: Customs data show that in March this year, China's stainless steel imports decreased and exports increased month-on-month, and the net export volume increased by 244.32% month-on-month; in March, China's stainless steel net exports were 226,100 tons, an increase of 160,400 tons month-on-month , an increase of 244.32%; a year-on-year increase of 86,300 tons, an increase of 6.17%.

Prices of molybdenum products on May 12, 2023

Picture of TZM bar 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >