China Molybdenum Price - August 11, 2023

This week, China molybdenum price showed a pattern of first stabilizing and then rising, mainly due to the tighter spot supply in the market, and traders are reluctant to sell and have a strong bullish sentiment. It is worth mentioning that compared with last week, the prices of molybdenum concentrate and molybdenum oxide rose less this week, while the prices of molybdate, molybdenum powder and molybdenum rods rose significantly more.

According to Chinatungsten Online, the price of ferromolybdenum rose by about 14,000 yuan/ton or 5.13% this week compared with last week; the price of molybdenum concentrate rose by about 110 yuan/ton or 2.57%; the price of sodium molybdate rose by about 16,000 yuan/ton, or 9.04%; the price of ammonium heptamolybdate rose by about 17,000 yuan/ton, or 6.51%; the price of molybdenum powder rose by about 37 yuan/kg, an increase of 7.54%; the price of molybdenum oxide increased by about 120 yuan/ton Mo compared with last week, an increase of 2.76%.

From the perspective of the supply side, due to factors such as typhoon "Kanu" and recent heavy rains, the production of many molybdenum manufacturers at home and abroad is limited, and the logistics and transportation are sluggish, resulting in a decrease in the import of molybdenum raw materials in my country; in addition, the international molybdenum The relatively high price and the weak purchasing power of RMB are also the reasons for the decline in the import volume of molybdenum products in my country. From the demand side, the difficulty in increasing the supply of molybdenum raw materials and the increase in traffic resistance have caused many consumers to complete their purchase plans ahead of schedule.

News: According to data from the National Bureau of Statistics, in July 2023, the ex-factory price of industrial producers nationwide fell by 4.4% year-on-year and 0.2% month-on-month; the purchase price of industrial producers fell 6.1% year-on-year and 0.5% month-on-month. Among them, the price of mining industry dropped by 14.7%, that of raw material industry dropped by 7.6%, and that of processing industry dropped by 3.8%. Among the purchasing prices of industrial producers, the prices of chemical raw materials decreased by 13.3 percent, the prices of fuel and power decreased by 12.2 percent, the prices of ferrous metal materials decreased by 8.1 percent, and the prices of non-ferrous metal materials and wires decreased by 0.1 percent.

Prices of molybdenum products on August 11, 2023

Picture of molybdenum powder

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