Ferro Molybdenum Prices – May 17, 2023

Chinese molybdenum market remains stable on the whole on May 17, 2023 mainly due to the general demand of downstream users and the low willingness of suppliers to cut prices and ship goods. 

The industry expects that the market may continue to operate within a narrow range in the short term. Currently, the transaction prices of molybdenum concentrate and ferro molybdenum are around RMB 3,430/ton and RMB 236,000/ton respectively.

According to Chinatungsten Online, the main reason for the average market demand is: the price of stainless steel is low, which leads to the slow production speed of stainless steel factories, which in turn affects the demand for ferromolybdenum; current downstream users still have a certain amount of molybdenum raw materials in stock, so they are not in a hurry to purchase. However, supported by the production cost, the current raw material spot supply and the good development prospects of the molybdenum downstream industry, the holders basically maintain firm quotations.

In terms of news: According to data from the China Iron and Steel Association, in early May 2023, key statistical iron and steel enterprises produced a total of 22.5077 million tons of crude steel, 20.0565 million tons of pig iron, and 20.8689 million tons of steel. Among them, the daily output of crude steel was 2.2508 million tons, an increase of 2.0% month-on-month, and a year-on-year decrease of 2.5% of the same caliber; the daily output of pig iron was 2.0057 million tons, a month-on-month decrease of 1.15%, and a year-on-year decrease of 1.5% of the same caliber; the daily output of steel products was 2.0869 million tons, a month-on-month decrease of 7.89%. The same caliber decreased by 4.5% year-on-year.

Prices of molybdenum products on May 17, 2023

Picture of molybdenum foil 

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