Sodium Molybdate Prices – May 29, 2023

Molybdenum market on May 29, 2023: At the beginning of the week, the overall Chinese molybdenum market was relatively optimistic, mainly due to the difficulty in increasing the supply of molybdenum raw materials and the increased enthusiasm of downstream users for inquiries and purchases. 

At present, the prices of molybdenum concentrate, ferromolybdenum and sodium molybdate have broken through 3,700 yuan/ton, 250,000 yuan/ton and 170,000 yuan/ton respectively. Under the influence of the domestic molybdenum market heating up, the international molybdenum market is gradually improving. However, it still needs to be noted that due to the low steel price, many steel companies still have a strong sentiment of lowering prices.

In terms of news: According to data from the China Iron and Steel Association, in mid-May 2023, key statistical iron and steel enterprises produced a total of 22.4546 million tons of crude steel, 19.953 million tons of pig iron, and 21.3969 million tons of steel. Among them, the daily output of crude steel was 2.2455 million tons, a decrease of 0.24% month-on-month, and a decrease of 2.33% compared with the same period last year; the daily output of pig iron was 1.9953 million tons, a decrease of 0.52% month-on-month, and a decrease of 1.75% compared with the same period last year; the daily output of steel products was 2.1397 million tons , an increase of 2.53% month-on-month, and a decrease of 3.59% compared with the same period last year.

Prices of molybdenum products on May 15, 2023

Picture of molybdenum sheet

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