China Molybdenum Market - December 23, 2022
- Details
- Category: Molybdenum's News
- Published on 23 December 2022
- Written by Shuxia
- Hits: 96
China molybdenum market maintained a relatively strong operation in the week ended on Friday December 23, 2022. At the beginning of the week, with the support of factors such as tight spot supply of molybdenum raw materials, acceptable demand from downstream users, and the need to narrow the gap between domestic and foreign molybdenum prices, suppliers basically raised their quotations.
The increase was slight mainly due to the excessive price rise in the previous week or two, the fall of international molybdenum prices at that time, and the increased fear of heights among buyers. Near the weekend, the pace of downstream purchases slowed down and the international molybdenum price rebounded. Under the influence, the holders generally maintained firm quotations. Generally speaking, the trading activity of the market is average this week, and there are not many bulk cargo transactions.
According to statistics from Chinatungsten Online, the price of molybdenum concentrate rose by about 70 yuan/mtu this week, an increase of 1.80%; the price of ferromolybdenum remained the same as last Friday; molybdenum oxide rose about 80 yuan/ton, or 2.03%; sodium molybdate rose about 1,000 yuan/ton, or 0.57%; ammonium heptamolybdate rose about 2,000 yuan/ton, or 0.80%; molybdenum powder rose about 10 yuan/ton kg, an increase of 2.20%.
In terms of news: In the first ten days of December 2022, the steel inventory of key steel enterprises was 15.3415 million tons, an increase of 37,600 tons or 0.25% over the previous ten days (that is, the end of last month); a decrease of 1.3803 million tons and a decrease of 825 %; An increase of 4.0446 million tons, an increase of 35.80% over the end of last year; an increase of 1.999 million tons, an increase of 14.98% over the same period last year.
Prices of molybdenum products on December 23, 2022
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