China Molybdenum Price - June 16, 2023

China molybdenum price showed a downward trend in the week ended on Friday, June 16, 2023. As the favorable factors gradually weakened, the buyer’s market advantage was slightly enhanced, mainly reflected in the improvement of suppliers’ awareness of profitability. 

Under this situation, downstream users’ enthusiasm for inquiry and purchase increased slightly. Therefore, the transaction is acceptable near the weekend.

According to Chinatungsten Online, the price of ferromolybdenum this week dropped by about 15,000 yuan/ton, or 5.88%, compared with last week; the price of molybdenum concentrate dropped by about 170 yuan/ton, or 4.44% compared with last week; the price of ammonium heptamolybdate dropped by 5,000 yuan/ton, or 2.89%; the price of ammonium heptamolybdate dropped by about 5,000 yuan/ton, or 1.98%; Last week, it dropped by about 150 yuan/ton degree, a drop of 3.84%. It can be seen that the price of molybdenum raw materials dropped more than that of molybdenum chemical products this week.

In terms of news, data from the National Bureau of Statistics shows that in May 2023, my country's crude steel output was 90.12 million tons, a year-on-year decrease of 7.3%; pig iron output was 77 million tons, a year-on-year decrease of 4.8%; steel output was 118.47 million tons, a year-on-year decrease of 1.3%. From January to May 2023, my country's crude steel output was 444.63 million tons, a year-on-year increase of 1.6%; pig iron output was 374.74 million tons, a year-on-year increase of 3.2%; steel output was 557.06 million tons, a year-on-year increase of 3.2%.

Prices of molybdenum products on June 16, 2023

Picture of TZC piercing plus 

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