Molybdenum Concentrate Price - June 7, 2023

China’s domestic molybdenum market remains stable mainly due to the fact that current suppliers are not in a hurry to ship goods and buyers basically maintain rigid demand. 

At present, the prices of molybdenum concentrate and ferro molybdenum are firm at around 3,830 yuan/ton Mo and 255,000 yuan/ton respectively. Recently, the steel companies that entered the bidding for ferromolybdenum include Shandong Juneng 20 tons (tender price 250,000 yuan/ton), Dalian Special Steel, Posco (Zhangjiagang) Stainless Steel, Baosteel (Meishan Base), Shouguang Juneng Special Steel, Shougang shares, Fushun Special Steel, etc.

It is worth mentioning that due to the slow follow-up of downstream demand, the quotations of international molybdenum suppliers have been basically rationally lowered, that is, the prices of international molybdenum oxide and European ferromolybdenum have fallen from high levels, which will hinder the heating up of my country's molybdenum market to a certain extent, so traders Should remain cautious operation, more to wait and see.

In terms of news: data from the World Steel Association shows that global crude steel production will total 1.885 billion tons in 2022, a year-on-year decrease of 3.9%. Crude steel production fell in all regions of the world except the Middle East. Among them, Asia is the largest producer of crude steel in the world. In 2022, the output of crude steel is 1.3848 billion tons, a year-on-year decrease of 1.8%; Oceania has the lowest crude steel output of 6.2 million tons, a year-on-year decrease of 2.9%; the crude steel output of the 27 EU countries is 1.362 million tons, down 10.8% year-on-year; crude steel output in other European regions was 45.8 million tons, down 12.3% year-on-year; CIS 85.8 million tons, down 20% year-on-year; North America 111.3 million tons, down 5.5% year-on-year; A year-on-year decrease of 5%; Africa 21.1 million tons, a year-on-year decrease of 5.2%, and the Middle East 50.4 million tons, a year-on-year increase of 6.6%.

Prices of molybdenum products on June 7, 2023

Picture of MoSi2 heating element 

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