The price of "industrial vitamins" has soared, and molybdenum iron has skyrocketed by 1500 yuan in one day.

Molybdenum is known as the "industrial vitamin" and is widely used in steel metallurgy, high-end equipment, new energy, and other fields. China has the largest molybdenum reserves in the world. In the first half of this year, the domestic molybdenum market continued to strengthen. The manager of the China smelting division of Luoyang Molybdenum Industry introduced, "Currently, this bag weighs one ton, and the price on July 14th is 332,000 yuan. The price on the 13th was 330,500 yuan, an increase of 1,500 yuan in one day." The molybdenum iron produced by smelting and processing molybdenum concentrate, which adds as an alloying agent, is supplied in large quantities to special steel enterprises. The price of molybdenum iron in the first half of the year has increased by nearly 30%. Industry experts point out that the continuous strengthening of prices is rooted in the structural tightness of the molybdenum market supply. In addition, the technological iteration in emerging fields such as new displays, perovskite photovoltaics, semiconductors, and others, has opened up new growth space for the molybdenum industry, promoting the upgrade of the molybdenum market from industrial demand to high-end new materials.