Chinese Molybdenum Price - December 13, 2023

Chinese molybdenum price is showing a pattern of stabilization and rebound, primarily due to the simultaneous increase in steel demand and prices and the uptrend in the international molybdenum market. 

In this situation, the market activity is relatively high, and in the short term, industry participants are particularly concerned about the production volume of molybdenum mining companies and the bidding situation of steel companies.

In the molybdenum concentrate market, the market is gradually improving. With the awareness of suppliers reluctant to sell and the increase in prices, low-priced supply sources are gradually disappearing. On December 12th, the selling price of 50-55% grade molybdenum concentrate in Yichun Lu Ming was 2980-3000 yuan/ton Mo (cash-acceptance), while the selling price of molybdenum concentrate with a grade above 55% was 2990-3010 yuan/ton Mo (cash-acceptance).

In the ferro molybdenum market, the supply and demand fundamentals are relatively healthy. In addition to the support from the rise in molybdenum raw material prices, the concentrated entry of steel companies into tenders and the increase in bid prices have largely supported the confidence of intermediate smelting companies to maintain prices. However, the steel market situation still tends to be weak, potentially inhibiting the extent of the rise in molybdenum iron prices.

In the molybdenum chemicals and products market, there is a strong atmosphere of observation, and when end customers primarily adopt on-demand procurement, supplier quotations are adjusted slightly in response to changes in molybdenum raw material selling prices.

On the news front, according to data from the National Bureau of Statistics, in November 2023, the year-on-year decrease in the ex-factory prices of industrial producers nationwide was 3.0%, and the month-on-month decrease was 0.3%. The year-on-year decrease in industrial producer purchase prices was 4.0%, with a month-on-month decrease of 0.3%. In the ex-factory prices of industrial producers, the mining industry prices fell by 7.3%, raw material industry prices fell by 3.2%, and processing industry prices fell by 3.1%.

Prices of molybdenum products on December 13, 2023

Picture of MoSi2 heating element 

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