China Molybdenum Price - July 21, 2023

China molybdenum price was relatively strong in the week ended on Friday, July 21, 2023. Under the situation that raw material manufacturers are reluctant to sell and raise prices and the downstream demand is acceptable, the trading activity in the market is relatively high, and the price of molybdenum raw materials has risen slightly. 

It is worth mentioning that the price of ferromolybdenum is expected to break through the 260,000 yuan/ton mark.

According to Chinatungsten Online, the price of ferromolybdenum rose by about 4,000 yuan/ton or 1.57%; the price of molybdenum concentrate rose about 30 yuan/ton or 0.76%; the prices of sodium molybdate, ammonium heptamolybdate and molybdenum powder were flat compared with last week; the price of molybdenum oxide rose by about 30 yuan/ton Mo, an increase of 0.74% compared with last week.

The main reason for the price increase of molybdenum raw materials this week is that steel companies are willing to enter the market to bid for ferromolybdenum and the market spot supply is difficult to increase, there are considerable steel bidding prices, high international molybdenum prices, and the sales price of molybdenum concentrate from a molybdenum mine in Luanchuan is in line with expectations.

On July 20, 2023, the transaction prices of more than 45% and more than 50% of molybdenum concentrates in a molybdenum mine in Luanchuan were 3910 yuan/ton degree and 3930-3975 yuan/ton degree respectively. The main reason for the lackluster price increase of molybdenum chemical products this week is that end customers basically maintain rigid demand purchases, the price increase of molybdenum raw materials is small, and the current price of molybdenum chemical products is relatively high.

News: According to the National Bureau of Statistics, from January to June 2023, China's steel bar output was 117.558 million tons, an increase of 0.4% year-on-year; the output of medium-thick and wide steel strips was 100.790 million tons, a year-on-year increase of 9%; the output of wire rods (wire rods) was 70.774 million tons, a year-on-year increase of 0.8%; Among them, in June, the output of steel bars was 20.618 million tons, a year-on-year increase of 3%; the output of medium-thick and wide steel strips was 17.711 million tons, a year-on-year increase of 12.9%;

Prices of molybdenum products on July 21, 2023

Picture of molybdenum disc 

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