Ferro Molybdenum Price - July 10, 2023

At the beginning of the week, China molybdenum market generally maintained stable mainly due to the general enthusiasm of downstream users to enter the market for inquiries and purchases and the generally strong confidence of suppliers to stand up prices. 

Currently, the prices of molybdenum concentrate and ferro molybdenum are around RMB 3,940/ton Mo and RMB 258,000/ton respectively. According to Chinatungsten Online, the main reason for the gradual weakening of market demand in recent days is that as the price of molybdenum rises, many downstream users are more fearful of heights, and some consumers have completed their purchase plans. However, supported by the difficulty in increasing the spot supply in the market and the production cost, the holders basically maintained firm quotations.

In terms of news: According to data from the China Iron and Steel Association, in late June 2023, the steel inventory of key steel companies was 14.7803 million tons, a decrease of 1.4417 million tons or 8.89% from the previous ten-day period (that is, mid-June); A decrease of 840,400 tons, down 5.38%; an increase of 1.7059 million tons, an increase of 13.05% over the end of last year; a decrease of 2.1684 million tons, a decrease of 12.79% over the same ten days of last year; an increase of 1.0141 million tons over the same ten days of the previous year, an increase of 7.37%.

Prices of molybdenum products on July 10, 2023

Picture of molybdenum copper plate

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