China Molybdenum Price - November 25, 2022
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- Category: Molybdenum's News
- Published on 25 November 2022
- Written by Shuxia
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China molybdenum price was in the upward trend in the week ended on Friday November 25, 2022, mainly due to the shortage of molybdenum raw material supply and the rise in steel bidding prices. But the increase slowed down, which was not as good as last week, as the current molybdenum price is high and the international molybdenum market is cooling down.
According to statistics from Chinatungsten Online, the price of molybdenum concentrate rose about 40 yuan/ton, or 1.20% this week; ferromolybdenum rose about 6,000 yuan/ton, or 2.71%; molybdenum oxide rose about 40 yuan/ton, or 1.17%; sodium molybdate rose by about 6,000 yuan/ton, or 4.03%; ammonium tetramolybdate rose by about 6,000 yuan/ton, or 2.84%; molybdenum powder rose by 5 yuan/kg, up 1.26%; molybdenum contract rose 6 yuan/kg, up 1.22%.
It can be seen that the prices of molybdenum compounds and molybdenum products have risen greatly, while the price of molybdenum raw materials has risen slightly, mainly due to the excessive increase in the price of molybdenum raw materials in the early stage, so the holders have basically maintained rational quotations recently. Driven by the sharp increase in the price of raw materials, the quotations of molybdenum chemical companies also increased to avoid the risk of cost inversion.
In terms of news: According to data from the China Iron and Steel Association, in mid-November 2022, key statistical iron and steel enterprises produced a total of 20.0197 million tons of crude steel, 18.1328 million tons of pig iron, and 19.6984 million tons of steel. Among them, the daily output of crude steel was 2.0020 million tons, a month-on-month increase of 0.76%; the daily output of pig iron was 1.8133 million tons, a month-on-month increase of 0.23%; the daily output of steel products was 1.9698 million tons, a month-on-month increase of 2.88%.
Prices of molybdenum products on November 25, 2022
Picture of molybdenum wire for EDM
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