Molybdenum Prices in China - Oct. 31, 2018

Molybdenum prices in China have stabilized at a relatively high level as the market gradually returns to rationality waiting for steel tenders and environmental protection’s influences on operating rate. 

In the molybdenum concentrate market, spot resources remain tight, trading becomes active and sellers have strong mentality to quote at the level of RMB 2,000/t. steel mills hesitate to purchase high-price raw materials, some of them delay the tenders. But influenced by firm production costs and tight supply, manufacturers have good mentality. 

Hengyang Valin Steel Tube issued buy tenders for 120 tons of ferromoly in November at RMB 139,500 per ton, up RMB 5,500 per ton compared with last round. Shougang Group planned to open tender 120 tons of ferromoly at RMB 141,300 per ton, up RMB 11,500 per ton from October.

Prices of molybdenum products on Oct. 31, 2018

Picture of sodium molybdate

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