Molybdenum Powder Price - December 9, 2024

At the beginning of the week, the domestic Chinese molybdenum market exhibited a weak but stable trend. This was influenced by suboptimal performance in steel procurement volumes and pricing, a slight uptick in international molybdenum prices, and strong production cost support. Suppliers adjusted their quotes within a reasonable range.

Today, the prices for molybdenum concentrate, ferromolybdenum, and molybdenum powder consolidated at approximately 3,580 CNY/ton-degree, 233,000 CNY/ton, and 425 CNY/kg, respectively. Market participants are currently focused on the sales activity of molybdenum mining enterprises and the progress of new steel procurement tenders.

Steelmakers recently entering the market to tender for ferromolybdenum include Maanshan Iron & Steel, Wuhu Xinxing Ductile Iron Pipes, Shandong Iron & Steel Laiwu, and Shouguang Juneng Special Steel.

Market Updates:

According to the Baotou Industry and Information Technology Bureau, prices for 13 out of 14 key steel products monitored in November 2024, including rebar, high-speed wire rod, and I-beam, declined month-on-month. Rebar saw the largest drop, with an average price of 3,317 CNY/ton, down 402 CNY/ton or 10.8%.

Year-on-year, all 14 products recorded price decreases. Seamless pipes experienced the steepest decline, with an average price of 4,105 CNY/ton, down 710 CNY/ton or 14.7%. Channel steel saw the smallest decrease, averaging 3,738 CNY/ton, down 122 CNY/ton or 3.2%.

Prices of molybdenum products on December 9, 2024

Picture of molybdenum bar 

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