Sodium Molybdate Prices - August 30, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain stable on August 30, 2023. 

Amidst weak supply and demand, there are differences in the attitudes of both buyers and sellers. Suppliers show less willingness to make concessions, while buyers have a stronger inclination to press for lower prices, leading to subdued transactions. In the short term, industry participants are particularly focused on the shipments from molybdenum mining companies and the conditions of the next round of steel procurement.

According to information obtained by Zhongtung Online, the current transaction price for molybdenum concentrate is mostly around 4,400 yuan per ton. Molybdenum iron manufacturers are facing significant pressure, primarily due to the lukewarm steel procurement market and the difficulty in sourcing low-priced materials. In recent days, steel companies participating in molybdenum iron tenders include Baosteel (Meishan Base), Jiangsu Shagang, Wuhan Iron and Steel, and Hegang Technology.

In terms of news, data from the China Iron and Steel Association shows that the operation of the main steel industry was generally stable from January to July 2023. During the first seven months, real estate development investment decreased by 8.5% year-on-year, construction area decreased by 6.8%, new construction area decreased by 24.5%, and sales area of commercial housing decreased by 6.5%. Infrastructure construction investment increased by 6.8% year-on-year, with the growth rate narrowing by 0.4 percentage points compared to the first six months. The machinery industry operated steadily, with the value added of the machinery industry maintaining growth. Among the 120 key products under statistics, 59 of them saw an increase in output compared to the same period last year, accounting for 49%.

Prices of molybdenum products on August 30, 2023

Picture of TZM rod 

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