Ferro Molybdenum Price - August 9, 2023

Details: Category: Tungsten's News; Published on Thursday, 10 August 2023 17:48

Molybdenum market quotation in China: ferro molybdenum, sodium molybdate and ammonium molybdate prices continue to increase on August 9, 2023 mainly due to the tightening spot supply of molybdenum raw materials, downstream users basically maintaining rigid demand purchases, and the continuous rise in international molybdenum prices. Under this situation, suppliers generally have a good attitude and have expectations for the market outlook.

In terms of supply, in addition to the large shipments of molybdenum suppliers in the early stage, which led to a relatively low spot inventory in the market in the near future, the recent high temperature, heavy rainfall, and high energy prices such as electricity prices and oil prices have led to limited release of production capacity by many molybdenum manufacturers. , and the international molybdenum price is relatively high and the purchasing power of RMB is not high, which is not conducive to the increase of my country's molybdenum raw material imports, which are also the reasons for the current tight supply of molybdenum raw materials.

On the demand side, although many buyers are more cautious in their consumption behavior due to the rise in the price of molybdenum raw materials and the current steel price is not very optimistic, but there are still some companies willing to enter the market for consumption. Recently, steel companies that have entered the bidding for ferromolybdenum include Baosteel, Fushun Special Steel, CITIC Pacific Group, Xinyu Iron and Steel, Shougang, Baotou Steel, etc. The bidding price is basically below 280,000 yuan/ton.

In terms of news: According to the China Iron and Steel Industry Association, according to customs statistics, in July 2023, my country imported 678,000 tons of steel, an increase of 66,000 tons from the previous month, or an increase of 10.8%; 2.7%; imported iron ore was 93.476 million tons, a decrease of 2.042 million tons or 2.1% from the previous month.

Prices of molybdenum products on August 9, 2023

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