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China Tungsten Price - December 16, 2022

China tungsten price showed a sharp upward trend in the week ended on Friday December 16, 2022. Under the interweaving of optimistic and negative factors, the seller’s market has an obvious advantage, which is mainly reflected in the strong bullish sentiment in the market, the order quantity is acceptable, and the price increase of most molybdenum chemical products is higher than the previous one.

According to statistics from Chinatungsten Online, the price of molybdenum concentrate rose about 350 yuan/ton, or 9.92% this week; ferromolybdenum rose about 32,000 yuan/ton, or 13.56%; molybdenum oxide rose about 320 yuan/ton, or 8.84% Sodium molybdate rose about 13,000 yuan/ton, or 8.07%; ammonium heptamolybdate rose about 22,000 yuan/ton, or 9.69%; molybdenum powder rose about 43 yuan/kg, or 10.46%.

It can be seen that the price increase of ferromolybdenum this week is the most significant, mainly due to the increase in the activity of the steel bidding market under the situation that the supply of low-priced goods is difficult to obtain and the international molybdenum market is good, which prompts the quotations of intermediate smelters to increase sharply. As the price of ferromolybdenum rises, the prices of other molybdenum products also rise. However, in order to narrow the gap between molybdenum prices at home and abroad, the international molybdenum price has been adjusted back recently.

News: According to data from the National Bureau of Statistics, in November 2022, China's average daily output of crude steel was 2.4847 million tons, a month-on-month decrease of 3.4%; the average daily output of pig iron was 2.2663 million tons, a month-on-month decrease of 0.8%; The month-on-month decrease was 1.8%. In November, China's crude steel output was 74.54 million tons, a year-on-year increase of 7.3%; pig iron output was 67.99 million tons, a year-on-year increase of 9.7%; steel output was 109.19 million tons, a year-on-year increase of 7.1%.

Prices of molybdenum products on December 16, 2022

Picture of molybdenum sheet 

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