Molybdenum Powder Price - October 16, 2024

The domestic molybdenum market remains stable with prices consolidating, as the impact of favorable factors gradually weakens and traders have become less active compared to earlier periods, leading to moderate transaction volumes. 

Currently, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum powder are stable at around 3,760 yuan/tonne degree, 244,000 yuan/tonne, and 435 yuan/kg, respectively.

On the positive side, two main factors are supporting the market: first, the slight rise in international molybdenum prices, which has provided a modest boost to domestic market sentiment; and second, the relatively strong volume and price of steel tenders, along with solid production costs, which have reinforced suppliers' confidence in maintaining firm prices.

On the downside, there are challenges: the slow follow-up demand from end customers is reducing market trading activity, and the gradual diminishing of positive factors, combined with the currently attractive molybdenum prices, has led many suppliers to be more willing to lock in profits.

In terms of news, data from the China Iron and Steel Association (CISA) shows that in early October 2024, the social inventory of five major steel products saw mixed changes. Long product inventories increased significantly, while flat product inventories mostly declined. Specifically, hot-rolled coil inventory dropped by 4.0% to 2.14 million tonnes; cold-rolled coil inventory rose by 0.9% to 1.13 million tonnes; medium-thick plate inventory fell by 1.0% to 1.03 million tonnes; wire rod inventory surged by 10.8% to 720,000 tonnes; and rebar inventory increased by 7.0% to 2.61 million tonnes.

Prices of molybdenum products on October 16, 2024

Picture of MoSi2 heating element 

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