Molybdenum News Center

Sodium Molybdate Price – November 7, 2022

At the beginning of the week, China molybdenum price still remains at a relatively high level despite prices of sodium molybdate and molybdenum oxide decline slightly. 

Although affected by the depreciation of the RMB and the high international molybdenum price, the import volume of domestic molybdenum raw materials was not large. In addition, ferromolybdenum merchants and steel companies basically maintained just-in-demand procurement, but it was still difficult to promot the price of molybdenum chemical products to rise again or stabilize. According to Chinatungsten Online, the negative factors in the current market mainly include: downstream users are more afraid of heights; the international molybdenum market is tepid; the current global economy is slowing down.

In terms of news: data from the China Iron and Steel Association shows that in late October, the social inventory of 5 major types of steel in 21 cities was 8.36 million tons, down 3.0% from the previous month; down 1.9% from late September; up 6.1% from the beginning of the year; down from the previous year 15.7%. In terms of different regions, inventory in East China decreased by 7.1% month-on-month; Central China decreased by 7.1%; Southwest China decreased by 3.4%; South China decreased by 0.5%; Northeast inventory increased by 6.9% month-on-month; Northwest China increased by 2.1%;

Prices of molybdenum products on November 7, 2022

Picture of black TZM rod 

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