China Molybdenum Market - June 2, 2023

China molybdenum market showed a stable and relatively strong pattern in the week ended on Friday, June 2, 2023, mainly due to the fact that the demand of downstream users is still good and the current market spot supply is tight. 

The reasons for the low spot inventory in the current market are as follows: the stockholders had a strong sense of profit-taking in the early stage and shipped a large amount of goods; due to the strengthening of environmental protection efforts and the shortage of electricity in some areas, the production of some molybdenum manufacturers has been restricted; Recently, the exchange rate of US dollar to RMB has gradually increased and the international molybdenum price is not low, which affects the import of molybdenum raw materials in China to a certain extent.

According to Chinatungsten Online, the price of ferromolybdenum this week rose by about 9,000 yuan/ton, or 3.66%, compared with last week; the price of molybdenum concentrate rose by about 200 yuan/ton, or 5.51%; the price of ammonium heptamolybdate rose by about 10,000 yuan/ton, or 4.13%; the price of molybdenum powder increased by about 20 yuan/kg, or 4.33%; the price of molybdenum oxide was about 200 yuan/mtu compared with last week, an increase of 5.39%. It can be seen that the prices of molybdenum raw materials and molybdenum chemical products have increased significantly this week.

In terms of news: According to data from the China Iron and Steel Association, from January to April 2023, the total water consumption of key statistical iron and steel enterprises was 30.882 billion cubic meters, a year-on-year increase of 4.63%; the water reuse rate was 98.24%, a year-on-year increase of 0.09 percentage points; decreased by 0.70%; new water consumption per ton of steel decreased by 4.36% year-on-year; the total amount of discharged wastewater decreased by 14.30% year-on-year, and in the discharged wastewater, the discharge of chemical oxygen demand, ammonia nitrogen, total cyanide, suspended solids and petroleum decreased by 21.78% year-on-year %, 8.80%, 32.74%, 12.70% and 15.01%.

Prices of molybdenum products on June 2, 2023

Picture of molybdenum powder

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >