Ferro Molybdenum Prices – May 22, 2023

At the beginning of the week, China molybdenum market showed a stable and relatively strong pattern, mainly due to the low spot inventory in the market, the increased demand from downstream users and the rise in international molybdenum prices. 

At present, the prices of molybdenum concentrate and ferro molybdenum have broken through the mark of 3,500 yuan/ton and 240,000 yuan/ton respectively; as of now, the total amount of steel biddings for ferromolybdenum has exceeded 7,000 tons in May.

Recently, steel enterprises that entered the bidding for ferromolybdenum include Qingdao Special Steel, Xining Special Steel, Fushun Special Steel, etc. In addition, it is worth mentioning that the unstable steel price trend will affect the molybdenum market to a certain extent, so investors should wait and see cautiously.

News: According to data from the National Bureau of Statistics, since August 2020, the China Iron and Steel Industry Association has carried out the work of publicizing the progress of ultra-low emission transformation and evaluation and monitoring of iron and steel enterprises. As of May 17, 2023, 83 iron and steel enterprises have made announcements on the Iron and Steel Association website. Since May, 4 new companies have been added: Tangshan Yutian Jinzhou Industrial Co., Ltd., Hebei Tianzhu Iron and Steel Group Co., Ltd., Wuhu Xinxing Casting Pipe Co., Ltd. and Anhui Changjiang Iron and Steel Co., Ltd.

Prices of molybdenum products on May 22, 2023

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Picture of molybdenum copper plate 

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