Ammonium Heptamolybdate Prices - December 4, 2024

The domestic molybdenum market continues to exhibit a weak downward trend, 

with prices for molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate decreasing by approximately 40 RMB/ton unit, 2,000 RMB/ton, and 1,000 RMB/ton, respectively. Market participants are mainly focusing on the sales performance of molybdenum mining companies and the volume and price of steel bidding.

Molybdenum Concentrate Market

The market remains average, influenced by downstream demand that is decent but tempered by lower steel bidding prices and a slowdown in production capacity release from some molybdenum mining companies. Suppliers’ price quotes are relatively inconsistent, ranging from 3,610 RMB/ton unit to 3,680 RMB/ton unit.

Ferromolybdenum Market

The overall market remains under pressure. Although steel enterprises are gradually initiating bids for ferromolybdenum, the strong tendency of steel mills to suppress prices, combined with the relatively high cost of raw materials, poses significant risks of price inversion for intermediate smelting enterprises.

Molybdenum Chemicals and Products Market

The trading atmosphere within this segment is relatively subdued. End-users are maintaining primarily rigid demand, while a weakening confidence in stable raw material prices has led some holders to lower their price quotes.

Market News

According to the China Iron and Steel Association (CISA), in October 2024, China exported 11.18 million tons of steel, an increase of 10.1% month-on-month and 40.8% year-on-year. Steel imports amounted to 536,000 tons, down 3.2% month-on-month and 19.7% year-on-year.

Cumulative Data (January to October 2024):

Steel exports: 91.89 million tons, up 23.0% year-on-year.

Steel billet exports: 4.64 million tons, up 69.2% year-on-year.

Steel imports: 5.72 million tons, down 10.1% year-on-year.

Steel billet imports: 1.70 million tons, down 31.3% year-on-year.

Prices of molybdenum products on December 4, 2024

Picture of black TZM rods 

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