Molybdenum News Center

Sodium Molybdate Prices - October 23, 2023

At the beginning of the week, China’s domestic molybdenum market showed relatively positive trends, mainly reflected in various molybdenum product prices experiencing different degrees of increase, along with increased actual trading volume. 

This is primarily attributed to the rise in steel demand and prices, ongoing international molybdenum price negotiations, and strong support from production costs. However, this does not mean that all negative factors have completely dissipated. According to information from Chinatungsten Online, molybdenum concentrate prices have seen significant increases recently, and some steel companies still maintain strong downward price pressure, resulting in a continued risk of cost inversion for midstream smelting companies. Currently, molybdenum concentrate and molybdenum iron prices have risen to around CNY 3,250 per ton and CNY 225,000 per ton, respectively. And the prices of sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices also rose as well.

In terms of news, data from the National Bureau of Statistics show that in the period from January to September 2023, China's production of steel bars reached 174.62 million tons, with a year-on-year growth of 0.3%, while the production of medium and wide steel strips was 154.12 million tons, with a year-on-year growth of 12.9%. In September, China's production of steel bars was 18.62 million tons, marking an 11.4% decrease compared to the same period last year, while the production of medium and wide steel strips was 17.77 million tons, reflecting a 17.0% year-on-year increase.

Prices of molybdenum products on October 23, 2023

Picture of molybdenum boats 

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