December 23, 2024: Molybdenum Market Update

Details: Category: Tungsten's News; Published on Tuesday, 24 December 2024 17:15

At the beginning of the week, the domestic molybdenum market continued the steady trend observed last week.

This was mainly reflected in traders maintaining rigid transactions and product prices showing no significant fluctuations. Today, the prices for molybdenum concentrate, ferromolybdenum, and ammonium tetramolybdate are approximately 3,600 CNY/metric ton unit, 233,000 CNY/ton, and 224,000 CNY/ton, respectively.

Supply Side

Weather Impact: With temperatures steadily dropping, the production capacity of some molybdenum mining companies has slowed down.

Imports: The relatively low purchasing power of the Chinese yuan combined with high international molybdenum prices has limited the increase in China's molybdenum product imports.

Demand Side

Lower Prices and Upcoming Holidays: Compared to mid-October, current molybdenum product prices are at a relatively low level. With New Year's and Spring Festival approaching, downstream users have shown increased interest in inquiries and procurement.

Christmas Effect: The approach of Christmas has led to a slight decrease in the export volume of Chinese molybdenum products.

Market News

According to the Jiangxi Provincial Development and Reform Commission's official website, price monitoring data from the Jiangxi Steel Market and Fuzhou Trade Plaza Steel Market shows that in November, sales prices of 44 monitored steel product varieties included 11 increases, 27 decreases, and 6 remained stable month-on-month.

Wire Rod: The average sales prices of high wire 6.5mm (HPB300) and high wire 8mm (HPB300) were 3,701.25 CNY/ton and 3,626.25 CNY/ton, respectively, down 6.21% and 6.33% month-on-month, and 12.11% and 13.06% year-on-year.

Rebar: The average sales price of rebar (φ12mm HRB400E) was 3,523.75 CNY/ton, down 4.60% month-on-month and 12.86% year-on-year.

Prices of molybdenum products on December 23, 2024

molybdenum price image