Molybdenum News Center

China Tungsten Market - February 22, 2023

China tungsten market remains stable on Feb. 22, 2023 because the supply-demand relationship in a weak balance. The buying and selling atmosphere in the market is slightly calm, which is mainly reflected in the small number of new orders and the difficult rise and fall of molybdenum prices.

In the molybdenum concentrate market, the overall activity has dropped significantly compared with the previous period, mainly due to the lower enthusiasm of downstream users for inquiries and purchases, the re-heating of the international molybdenum market, and the lower willingness of the holders to reduce sales. The current price of molybdenum concentrate is firm It is around 5600 yuan/mtu.

In the ferro-molybdenum market, under the influence of the low heat in the steel bidding market and the high price of molybdenum concentrates, the quotations of ferro-molybdenum are relatively chaotic, ranging from 350,000 yuan/ton to 380,000 yuan/ton, and most operators are waiting quietly. A new round of steel moves landed. Recently, the steel enterprises that entered the market to bid for ferromolybdenum include Shougang, Hengyang Valin Steel Pipe, Tianjin Sanying Welding Industry, Shandong Iron and Steel Group and Erzhong Equipment.

In the market of molybdenum chemical and its products, the overall performance is calm, and the product price is mainly affected by the relationship between supply and demand. Under the circumstances that end customers maintain rigid demand purchases and low-price supply is difficult to obtain, cargo holders basically focus on firm quotations.

In terms of news: According to data from the China Iron and Steel Industry Association, in 2022, Baotou Steel will produce 13.2765 million tons of iron, 14.1846 million tons of steel, and 13.4427 million tons of commercial billets. It is expected to achieve operating income of 74 billion yuan and pay taxes and fees of 2.744 billion yuan.

Prices of molybdenum products on February 22, 2023

Picture of molybdenum boat 

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