China Molybdenum Price - May 15, 2023

Details: Category: Tungsten's News; Published on Monday, 15 May 2023 18:20

At the beginning of the week, China molybdenum price showed a pattern of bottoming out and rebounding, mainly due to the increasing enthusiasm of downstream users for inquiries and purchases.

However, the general conditions of the international molybdenum market and some suppliers still have a strong sense of making profits and raising prices, resulting in limited room for molybdenum prices to rise. Currently, the prices of molybdenum concentrate, ferromolybdenum and molybdenum oxide are about 3,380 yuan/ton, 232,000 yuan/ton and 3,480 yuan/ton respectively.

Recently, enterprises that entered the bidding for ferromolybdenum include Shanxi Taigang, Hengyang Valin Steel Pipe, Dalian Special Steel, Fushun Special Steel, Nanjing Iron and Steel, Baosteel (Zhanjiang base), Shougang Co., Ltd., etc.

In terms of news: According to data from the China Iron and Steel Association, in April 2023, the ex-factory price of industrial producers nationwide fell by 3.6% year-on-year and 0.5% month-on-month; the purchase price of industrial producers fell 3.8% year-on-year and 0.7% month-on-month. Among them, the price of means of production fell by 4.7%, affecting the overall level of industrial producer prices to drop by about 3.66 percentage points. Among them, the price of the mining industry fell by 8.5%, the price of the raw material industry fell by 6.3%, and the price of the processing industry fell by 3.6%. The price of means of subsistence rose by 0.4%, which affected the overall level of ex-factory prices of industrial producers to rise by about 0.11 percentage points.

Prices of molybdenum products on May 15, 2023

molybdenum powder image