Chinese Molybdenum Prices - July 3, 2023

At the beginning of the week, Chinese molybdenum prices moved down slightly mainly due to the decrease in market demand and the increased awareness of profit-taking among many suppliers. 

At present, the transaction price of molybdenum concentrate is basically around 3,860 yuan/ton Mo, and ferro molybdenum price is around 252,000 yuan/ton.

According to Chinatungsten Online, the sharp rise in molybdenum prices in the past week or two has severely reduced the profit margins of molybdenum-containing stainless steel plants and other molybdenum downstream enterprises, resulting in a decrease in demand for molybdenum in the near future. Under such circumstances, the confidence of many molybdenum suppliers in stabilizing prices is slightly insufficient, coupled with the poor market conditions in the international molybdenum market, it is even more unfavorable for domestic molybdenum holders to raise prices.

In terms of news: According to data from the China Iron and Steel Industry Association, in May 2023, my country imported 631,000 tons of steel, an increase of 46,000 tons month-on-month, and a year-on-year decrease of 175,000 tons; %. From January to May 2023, my country imported 3.129 million tons of steel, a year-on-year decrease of 37.1%; the average import unit price was US$1,728.5/ton, a year-on-year increase of 12.8%; imported steel was 1.027 million tons, a year-on-year decrease of 68.8%.

Prices of molybdenum products on July 3, 2023

Picture of TZM rod 

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