Chinese Molybdenum Prices - December 6, 2024

This week, Chinese molybdenum prices have generally shown a fluctuating downward trend, 

primarily due to reduced demand from downstream users, low bid prices for ferro-molybdenum from steel mills, a decline in the transaction prices of molybdenum concentrate from a mine in Yunnan, a lukewarm international molybdenum market, and the gradual depletion of favorable macroeconomic news. In this environment, market trading activity has been moderate, and transaction volumes have been limited.

According to information from Chinatungsten Online, the current price of steel-grade ferro-molybdenum is about 230,000 yuan per ton, while the international price of molybdenum oxide is around 21.50 USD per pound. The current price of molybdenum concentrate has decreased by approximately 110 yuan per ton of molybdenum content compared to last week, a drop of 2.98%. Ferro-molybdenum prices have fallen by about 2,000 yuan per ton, a decrease of 2.10%. 

Sodium molybdate prices have dropped by about 2,000 yuan per ton, a decrease of 1.20%. Ammonium heptamolybdate prices have decreased by about 3,000 yuan per ton, a drop of 1.30%. Molybdenum powder prices have fallen by approximately 5 yuan per kilogram, a decrease of 1.16%. Molybdenum oxide prices have decreased by about 110 yuan per ton of molybdenum content, a drop of 2.90%. This shows that the price decline of molybdenum raw materials has been greater than that of molybdenum chemical products this week.

In terms of news, data from the China Iron and Steel Association (CISA) shows that in the second half of November 2024, key steel enterprises produced a total of 20.91 million tons of crude steel, with an average daily production of 2.091 million tons, reflecting a 0.5% increase in daily production compared to the previous period. By region, except for the Northeast and Central-South regions, where the daily crude steel production of key enterprises decreased compared to the previous period, other regions saw increases: North China increased crude steel production by 10,000 tons per day, East China increased by 22,000 tons per day, Northwest China increased by 3,000 tons per day, and Southwest China increased by 14,000 tons per day. In contrast, Northeast China’s crude steel production decreased by 7,000 tons per day, and Central-South China’s crude steel production decreased by 22,000 tons per day.

Prices of molybdenum products on December 6, 2024

Picture of MoSi2 heating element 

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