Molybdenum News Center

Sodium Molybdate Price – July 5, 2023

Molybdenum market quotation in China: the sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain unchanged on July 5, 2023. 

Under the interweaving of negative and positive factors, the price game between buyers and sellers was fierce, that is, buyers had a strong desire to suppress prices, while suppliers were less willing to make price concessions, resulting in limited transactions. In the short term, investors are advised to continue to pay attention to the bidding price of ferromolybdenum steel.

In the molybdenum concentrate market, the product transaction price is around 3,860 yuan/ton Mo, mainly due to the fact that there are not many spot stocks in the market, downstream users basically maintain rigid demand purchases, and the international molybdenum market is operating in consolidation; in the ferromolybdenum market, the overall activity slightly increases mainly due to the fact that steel companies successively entered the market for bidding at the beginning of the month and some raw material manufacturers have a strong sense of profit-taking; in the molybdenum chemical industry and its molybdenum market, the market has not changed significantly, and the supply and demand sides enter the market with general sentiment. Under the current situation, the prices of molybdenum salt, molybdenum powder and molybdenum bar are relatively stable.

Luanchuan Longyu Molybdenum Co., Ltd. issued an announcement on the auction sale of molybdenum concentrate. On July 5, 2023, it will sell 750 tons of molybdenum concentrate in ten sessions, including five sessions of 60 tons each, and the other five sessions of 90 tons each. The average price is 3,830 yuan per ton degree (tax-included current remittance price), and the molybdenum content of products in eight sessions is 50%, and the molybdenum content in products in two sessions is 45%.

In terms of news: From January to May 2023, the production and operation of Xingang Group has maintained a good momentum of development, and its economic benefits rank among the 93 large and medium-sized iron and steel enterprises in the China Iron and Steel Association. Among them, in May, the output of crude steel exceeded the 1 million tons mark for the first time, completing the 30-year historical leap from the annual production of 1 million tons of steel in 1993 to the monthly production of 1 million tons of steel in 2023. In 2022, the output of electrical steel will reach 1.09 million tons, and the proportion of high-grade silicon steel will exceed 80%.

Prices of molybdenum products on July 5, 2023

Picture of molybdenum wire 

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