China Molybdenum Price - August 4, 2023

China molybdenum price increased sharply in the week ended on Friday, August 4, 2023. Under the situation of tight supply of molybdenum raw materials and good downstream demand, traders’ speculation has generally warmed up, and the trading activity on the market has increased. 

This week, the price of molybdenum concentrate rose from 4,000 yuan/ton Mo to about 4,280 yuan/ton Mo, so many industry players are optimistic about the market outlook in the short term.

According to Chinatungsten Online, the price of ferromolybdenum this week rose about 13,000 yuan/ton, or 5.00%, compared with last week; the price of molybdenum concentrate rose about 280 yuan/ton, or 7.00% compared with last week; the price of sodium molybdate was about The price of ammonium heptamolybdate rose by about 8,000 yuan/ton, or 3.16%, compared with last week; the price of molybdenum powder rose by about 6 yuan/kg, or 1.24%; Last week, it rose about 270 yuan/ton degree, or 6.62%. It can be seen that the price of molybdenum raw materials has increased significantly this week, and in order to avoid the risk of cost inversion, the quotations of intermediate smelting enterprises and molybdenum chemical enterprises have also increased accordingly.

On August 3, 2023, the bidding results of Longyu Molybdenum’s 660 tons of molybdenum concentrates were announced: the transaction price of 45%-50% grade molybdenum concentrates was 4225-4265 yuan/ton Mo, and the transaction volume was 240 tons; the transaction price of 50% and above grade molybdenum concentrate is 4205-4310 yuan/ton Mo, and the transaction volume is 420 tons.

In terms of news: According to data from the China Iron and Steel Industry Association, from January to June 2023, the output of crude stainless steel will be 17.5868 million tons, a year-on-year increase of 8.22%. Among them, the output of Cr-Ni series stainless steel was 8.8523 million tons, an increase of 11.13%; the output of Cr-Mn series stainless steel was 5.3906 million tons, an increase of 8.20%; the output of Cr-series stainless steel was 3.1754 million tons, a year-on-year increase of 0.89%; the output of duplex stainless steel was 168,517 tons, an increase of 8.37% year-on-year.

Prices of molybdenum products on August 4, 2023

Picture of molybdenum rhenium block

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