Ferromolybdenum Price - August 14, 2023

At the beginning of the week, China’s domestic molybdenum market as a whole maintained a high and stable operation. 

Under the background that raw material manufacturers were less willing to cut prices and downstream users were more fearful of heights, the buying and selling atmosphere in the market was general, and new orders were limited.

At present, the quotations of individual molybdenum mining enterprises have been raised above 4,400 yuan/ton; the transaction price of ferromolybdenum is basically around 288,000 yuan/ton; the industry focuses on the shipments of molybdenum mining companies, steel bidding prices and overseas molybdenum price trends.

In terms of news: Statistics from the China Iron and Steel Industry Association show that in mid-July 2023, the steel inventory of key iron and steel enterprises was 15.6684 million tons, a decrease of 229,900 tons month-on-month, or 1.45%; %; 2.594 million tons more than the end of last year, up 19.84%; 3.3629 million tons less than the same ten days last year, down 17.67%.

Prices of molybdenum products on August 14, 2023

Picture of molybdenum sheet 

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