Domestic Molybdenum Concentrate Output Declined In May

SMM data shows that in May 2023, the domestic molybdenum concentrate output was 17,600 mt, a drop of 3% from the previous month. The decrease in the output of molybdenum concentrate is mainly due to two reasons:

1. With the recent tightening of environmental protection control, the output of some private mines in central China has been restricted for as long as half a month or even longer.

2. As the grade of some molybdenum mines associating with other metals fell, total output declined despite stable mining capacity. Supported by the lucrative profits of molybdenum concentrates, most molybdenum mining companies maintained relatively high operating rates. As a result, the monthly output of molybdenum concentrates did not drop significantly from April.

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