Molybdenum News Center

Molybdenum Powder Price – March 2, 2023

China’s molybdenum market starts to be weak in early March 2023. With the gradual weakening of positive support, the negative atmosphere in the market has increased slightly, which is mainly reflected in the decline in the prices of many molybdenum products and the weak atmosphere in the market for buying and selling. 

Currently, the prices of molybdenum concentrate, ferromolybdenum, ammonium heptamolybdate and molybdenum powder have been lowered to about 5,270 yuan/ton, 340,000 yuan/ton, 351,000 yuan/ton and 663 yuan/kg respectively.

According to Chinatungsten Online, the negative factors in the market are mainly due to the recent slowdown in the bidding speed of ferromolybdenum by steel companies and the rising sentiment of lowering prices. In February, the amount of ferromolybdenum was about 3,100 tons, which was significantly lower than that in January (about 12,000 tons). Therefore, some industry players predict that the amount of steel castings in March will exceed 10,000 tons. Recently, the steel mills that entered the bidding for ferromolybdenum include Valin Hengyang Steel (30 tons), Hegang Group (30 tons), Baosteel (60 tons), Jiangsu Huaigang (60 tons), etc.

News: World Steel Association data show that in January 2023, the world's 63 countries included in the World Steel Association's statistics will produce 145.3 million tons of crude steel, a decrease of 3.3% from the same period last year. In terms of regions, the crude steel output in Africa decreased by 4.9% compared with the same period last year to 1.2 million tons; the crude steel output in Asia and Oceania decreased by 0.2% compared with the same period last year to 107.5 million tons; the crude steel output in the European Union (27 countries) decreased by 15.2% compared with the same period last year % to 10.3 million tons; the crude steel output of other European countries decreased by 17.5% to 3.3 million tons compared with the same period last year; the crude steel output of the Middle East decreased by 19.7% to 3.8 million tons compared with the same period last year; the crude steel output of North America decreased by 5.6% to 910 Crude steel production in Russia and other CIS countries + Ukraine decreased by 24.9% to 6.5 million tons compared with the same period last year; crude steel production in South America decreased by 0.6% to 3.6 million tons compared with the same period last year.

Prices of molybdenum products on March 2, 2023

Picture of molybdenum sheet

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