Sodium Molybdate Price - July 31, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices increase slightly on July 31, 2023 with relatively good mentality of traders, and increased actual transaction volume.

From the perspective of positive factors, factors such as the small stock of raw materials, the rise in steel bidding prices, the steady rise in the price of ferromolybdenum in Europe, and the limited import of molybdenum raw materials in China have largely supported suppliers' confidence in quotations; From the perspective of negative factors, in addition to the complex and severe external environment, the fluctuation of molybdenum prices at home and abroad and the completion of purchase plans by some downstream users are important reasons for increasing the risk of cost inversion faced by intermediate smelting enterprises.

In terms of news: According to data from the China Iron and Steel Industry Association, in mid-July 2023, key statistical iron and steel enterprises produced a total of 22.4779 million tons of crude steel, 20.0839 million tons of pig iron, and 21.6936 million tons of steel products. Among them, the daily output of crude steel was 2.2478 million tons, an increase of 0.33% from the previous month, and an increase of 10.30% compared with the same period last year; the daily output of pig iron was 2.0084 million tons, a decrease of 0.56% from the previous month, and an increase of 5.62% compared with the same period last year; the daily output of steel was 2.1694 million tons, The chain increased by 3.34%, and the same caliber increased by 8.75% compared with the same period last year.

Prices of molybdenum products on July 31, 2023

Picture of molybdenum sheet 

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