Molybdenum News Center

Molybdenum Oxide Price – June 12, 2023

At the beginning of the week, China’s domestic molybdenum market showed a trend of both stability and decline. 

In addition to the slow follow-up of downstream demand, which was the main reason for the decline in suppliers' confidence in price stability, the foreign molybdenum market continuing to cool down is also the reason for the price decline of some domestic molybdenum products recently.

However, due to the support of production costs, not loose market spot supply and the relatively good development of molybdenum downstream industries, the decline in supplier quotations is limited. Currently, the prices of molybdenum concentrate, ferromolybdenum and molybdenum oxide have dropped to about 3,830 yuan/ton, 250,000 yuan/ton and 3,880 yuan/ton respectively.

In terms of news: According to data from the China Iron and Steel Association, in late May 2023, key statistical iron and steel enterprises produced a total of 23.0493 million tons of crude steel, 21.2816 million tons of pig iron, and 23.7013 million tons of steel products. Among them, the daily output of crude steel was 2.0954 million tons, a month-on-month decrease of 6.68%, and the same caliber was down 9.65% year-on-year; the daily output of pig iron was 1.9347 million tons, a month-on-month decrease of 3.04%, and the same caliber was down 5.47% year-on-year; the daily output of steel products was 2.1547 million tons, a month-on-month increase of 0.70%. The same caliber decreased by 4.92% year-on-year.

Prices of molybdenum products on June 12, 2023

Picture of black TZM rod 

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