Sodium Molybdate Price - June 28, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain at a relatively high level on June 28, 2023 under the impact of negative and positive factors. 

According to Chinatungsten Online, the positive factors include: first, as the end of the month is approaching, some downstream users urgently need to enter the market for consumption, so as to ensure the normal production and operation of enterprises next month; The bigger the price, coupled with the increase in production costs such as electricity costs, can enhance the holder's strong quotation awareness to a certain extent; the third is that Chile's heavy rainfall caused floods, which led to Codelco, the world's largest copper producer, to stop some copper-molybdenum mining operations .

Negative factors include: First, the sharp rise in the price of molybdenum products in a short period of time has significantly enhanced the fear of heights among downstream users, which in turn has led to a decline in market enthusiasm and trading volume; second, the international molybdenum price soared and fell back, which is unfavorable for the domestic molybdenum market to heat up.

In terms of news: According to data from the China Iron and Steel Industry Association, in mid-June 2023, the steel inventory of key steel companies was 16.222 million tons, an increase of 417,600 tons or 2.64% over the previous ten-day period (that is, the first ten days of June); A decrease of 42,600 tons, down 0.26%; an increase of 3.1475 million tons, an increase of 24.07% over the end of last year; a decrease of 4.3013 million tons, a decrease of 20.96% over the same ten days of last year; an increase of 525,000 tons over the same ten days of the previous year, an increase of 3.34%.

Prices of molybdenum products on June 28, 2023

Picture of TZC piercing plug 

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