Molybdenum Oxide Prices – July 12, 2023

Molybdenum market quotation in China: ferro molybdenum and molybdenum oxide prices edge lower and the prices of other molybdenum products remain stable on July 12, 2023. 

Under the mutual influence of positive and negative factors, suppliers' awareness of profit-taking has basically increased, and the trading activity on the market has increased, but the prices of some molybdenum products have dropped slightly.

According to Chinatungsten Online, the positive factors include steel companies’ concentrated bidding for ferromolybdenum, the difficulty in increasing the spot supply in the market, the rebound of international molybdenum oxide and European ferromolybdenum prices, and the support of production costs; the negative factors include the strong sentiment of buyers to suppress prices, The driving capacity of the international molybdenum market is limited and it is currently in the off-season of traditional consumption.

Recently, steel companies that entered the bidding for ferromolybdenum include 60 tons of Jiangsu Yonggang, 180 tons of Maanshan Iron and Steel, and 60 tons of Dalian Special Steel. In addition, the sales price of molybdenum concentrate at Yichun Molybdenum Mine on July 12 was RMB 3,960 against acceptance; more than 50% of the basic price of molybdenum concentrate at a mine in Henan was accepted at RMB 3,900 on July 12, and more than 47% of the base price of molybdenum concentrate was cash 3830 yuan.

News: According to the Stainless Steel Branch of the China Iron and Steel Industry Association, the national crude stainless steel output in the first quarter of 2023 was 8.2732 million tons, an increase of 4.11% year-on-year, of which the output of Cr-Ni stainless steel was 4.1719 million tons, an increase of 3.36%. The share decreased by 0.37 percentage points year-on-year to 50.43%. In the first quarter of 2023, the country imported 460,900 tons of stainless steel, a year-on-year decrease of 51.22%; the country exported 967,200 tons of stainless steel, a year-on-year decrease of 8.94%. The apparent consumption of stainless steel in the first quarter of 2023 was 6.9736 million tons, a year-on-year decrease of 0.96%.

Prices of molybdenum products on July 12, 2023

Picture of molybdenum foil 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >