Molybdenum Powder Price - June 19, 2023

At the beginning of the week, China’s domestic molybdenum market generally showed a sideways arrangement on June 19, 2023. Under the circumstances that the demand of downstream users is still lower than expected and there is no major positive news released from the policy, the confidence of suppliers to raise prices is slightly weak. 

Supported by a rebound in production costs and international molybdenum prices, many holders still have a strong sense of firm quotations. Currently, the prices of molybdenum concentrate, ferro molybdenum and molybdenum powder are about 3,660 yuan/ton Mo, 240,000 yuan/ton and 470 yuan/kg respectively.

In terms of news: According to data from the China Iron and Steel Industry Association, in early June 2023, key statistical iron and steel enterprises produced a total of 22.3107 million tons of crude steel, 20.0356 million tons of pig iron, and 20.6354 million tons of steel. During the same period, the steel inventory of key steel enterprises was 15.8043 million tons, an increase of 1.18% over the previous ten-day period (that is, late May), a decrease of 10.26% over the same period of last month, an increase of 20.88% over the end of last year, and a decrease of 14.79% over the same period of last year, an increase of 11.07% over the same period of the previous year.

Prices of molybdenum products on June 19, 2023

Picture of TZC piercing plug 

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