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Post-holiday ferromolybdenum prices have continued to climb, hitting a new record, and demand for molybdenum-containing steel may keep rising in the coming period.
Release date:
2023-09-05
According to eCompany, data released by Zhuochuang Information show that following the Spring Festival holiday, international molybdenum prices have continued to climb. With the export window now open, domestic molybdenum prices have followed suit, reaching a 17-year high in just half a month. In the ferromolybdenum market, current producer quotes have mostly risen to above RMB 400,000 per tonne. On the raw‑material front, several overseas copper‑molybdenum co‑producing mines are experiencing declining ore grades, leading to a contraction in global molybdenum supply. Domestically, there are currently no significant plans for capacity expansion, and output is expected to remain relatively stable going forward. As a result, raw‑material supply is likely to remain tight in 2023. Demand-side, with the government promoting high‑quality development, demand for molybdenum‑containing steels is expected to keep rising. Coupled with a projected increase in stainless‑steel production in 2023, overall molybdenum demand will grow, providing solid support for the molybdenum market.
According to a report by E-Company, data from Zhuochuang Information show that following the Spring Festival holiday, international molybdenum prices have continued to climb. With the export window now open, domestic molybdenum prices have followed suit, reaching a 17-year high in just half a month. In the ferromolybdenum market, manufacturers’ quotes have largely risen to above RMB 400,000 per ton. On the supply side, several overseas copper‑molybdenum co‑producing mines are experiencing declining ore grades, leading to a contraction in global molybdenum supply. Domestically, there are currently no significant plans to expand production, and output is expected to remain relatively stable going forward. As a result, raw material supplies are likely to remain tight in 2023. On the demand front, with the country emphasizing high‑quality development, demand for molybdenum‑bearing steels is expected to continue rising. Coupled with a projected increase in stainless steel production in 2023, overall molybdenum demand will grow, providing solid support for the molybdenum market.
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