Sodium Molybdate Prices – May 31, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain unchanged in the last trading day in May 2023. 

Under the relatively balanced relationship between supply and demand, the negotiating atmosphere between buyers and sellers is slightly stalemate, that is, the sellers have strong sentiments to raise prices, while buyers have a strong sentiment to suppress prices, which leads to lower trading enthusiasm and slower order growth than last week.

From the perspective of the supply side, in the case of a large number of shipments from suppliers in the early stage and the recent production speed of mining enterprises is not very fast, the market spot inventory is not much, and the depreciation of the RMB is not conducive to the import of molybdenum raw materials, so the market spot supply It is even more difficult to increase the volume. From the demand side, compared with last week, downstream demand has weakened, mainly due to the increase in molybdenum prices and some consumers have completed their purchase plans; recently, steel companies that have entered the bidding for ferromolybdenum include Shanxi Taigang ( Bidding price 240,000 yuan/ton), Baosteel (Zhanjiang Iron and Steel) 30 tons, Jiangsu Yonggang 60 tons (bidding price 242,000 yuan/ton), Wuhan Iron and Steel Group 15 tons, etc.

In terms of news: According to data from the China Iron and Steel Association, from January to April 2023, my country imported 2.498 million tons of steel, a year-on-year decrease of 40.1%, and the average import unit price was US$1,726.3/ton, a year-on-year increase of 14.5%; the export of steel was 28.014 million tons, a year-on-year increase of 55.0% %, the average export unit price was US$1,209.8/ton, a year-on-year decrease of 14.3%. Among them, 585,000 tons of steel products were imported in April, a decrease of 97,000 tons month-on-month and a decrease of 371,000 tons year-on-year; 7.932 million tons of steel products were exported, an increase of 42,000 tons month-on-month and an increase of 2.955 million tons year-on-year.

Prices of molybdenum products on May 31, 2023

Picture of molybdenum wire 

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