Molybdenum Concentrate Prices - September 9, 2024

At the beginning of the week, Chinese molybdenum market remained flat, influenced by both bullish and bearish factors, with slightly different performances across upstream and downstream markets:

In the molybdenum concentrate market, downstream demand was relatively strong, and with high molybdenum concentrate prices, raw material suppliers were eager to cash out, resulting in good transaction activity.

In the ferromolybdenum market, although demand from steel companies remained strong, the difficulty in finding low-priced supply and the relatively low bidding prices from steel companies made it challenging for intermediate smelting enterprises to quote prices.

In the molybdenum chemicals and products market, the atmosphere was active, but with limited inquiries from end customers and suppliers unwilling to lower prices, the overall trading volume was low.

In terms of news, according to the China Iron and Steel Association, data from the National Bureau of Statistics shows that in August 2024, the national producer price index (PPI) for industrial products fell by 1.8% year-on-year and 0.7% month-on-month. The purchasing price index for industrial producers fell by 0.8% year-on-year and 0.6% month-on-month. From a month-on-month perspective, in August, the prices of black metal materials fell by 1.9%, non-ferrous metal materials and wires by 1.7%, chemical raw materials by 0.8%, and fuel, power, building materials, and non-metallic materials all dropped by 0.5%.

Prices of molybdenum products on September 9, 2024

Picture of MoSi2 heating elements 

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