Molybdenum News Center

Sodium Molybdate Price - November 20, 2023

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices continued to decline at the beginning of the week. 

Influenced by the active inquiries and purchases from downstream users and strong support from production costs, suppliers generally held a strong reluctance to sell, but the rise in molybdenum product prices still lacked strength due to the prevalent price pressure from steel mills and the incomplete dissipation of market bearish factors. Recently, steel companies participating in the bidding for ferromolybdenum include Baosteel, Angang Steel, Wuhan Iron and Steel, Dalian Special Steel, Anyang Yongxing Special Steel, etc. Among them, Baosteel tendered 90 tons at a bid price of 190,000 yuan/ton, while Angang Steel tendered 90 tons at a bid price of 185,000 yuan/ton.

In terms of news: According to data from the China Iron and Steel Industry Association, in early November 2023, key steel enterprises produced a total of 19.7061 million tons of crude steel, 18.6178 million tons of pig iron, and 19.5331 million tons of steel. Among them, daily crude steel production was 1.9706 million tons, a month-on-month increase of 2.43%, a year-on-year decrease of 0.81% on the same caliber compared to the same period last year; daily pig iron production was 1.8618 million tons, a month-on-month increase of 2.48%, a year-on-year increase of 2.91% on the same caliber compared to the same period last year; daily steel production was 1.9533 million tons, a month-on-month decrease of 5.40%, and a year-on-year increase of 2.02% on the same caliber compared to the same period last year.

Prices of molybdenum products on November 20, 2023

Picture of MoSi heating elements 

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