Molybdenum News Center

China Molybdenum Price - July 7, 2023

China molybdenum price showed a pattern of first decline and then rise in the week ended on Friday, July 7, 2023. At the beginning of the week, due to the slowdown in the purchase speed of downstream users at the end of last month, the slight drop in international molybdenum prices, and the high level of molybdenum prices at that time, suppliers’ quotations were basically declined. 

Near the weekend, supported by the simultaneous rise in steel bidding prices, a slight rebound in international molybdenum prices, the difficulty in increasing spot supply in the market, and the considerable transaction prices of molybdenum concentrates from Luanchuan Molybdenum Mine, many suppliers have increased its offers.

According to Chinatungsten Online, the price of ferromolybdenum this week rose by about 5,000 yuan/ton, or 1.98%, compared with last week; the price of molybdenum concentrate rose by about 70 yuan/ton, or 1.81%; the price of ammonium heptamolybdate increased by about 2,000 yuan/ton, or 0.79%; the price of molybdenum powder increased by about 4 yuan/kg, or 0.83% compared with last week; the price of molybdenum oxide rose by about 60 yuan/ton Mo, an increase of 1.51% compared with last week. 

In terms of news: According to data from the China Iron and Steel Association, in late June 2023, key statistical iron and steel enterprises produced a total of 22.46 million tons of crude steel, 20.2868 million tons of pig iron, and 23.0647 million tons of steel. Among them, the daily output of crude steel was 2.246 million tons, a decrease of 0.74% from the previous month, and an increase of 7% compared with the same period last year; the daily output of pig iron was 2.0287 million tons, an increase of 0.52% from the previous month, and an increase of 4.59% compared with the same period last year; the daily output of steel products was 2.3065 million tons , an increase of 6.41% month-on-month, and an increase of 6.9% compared with the same period last year.

Prices of molybdenum products on July 7, 2023

Picture of TZM rods 

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