Chinese Molybdenum Prices - December 13, 2024

This week, Chinese molybdenum prices remained relatively stable with a slight downward trend. 

Under the influence of aggressive price suppression from steel enterprises and the reluctance of molybdenum mining companies to lower prices, ferromolybdenum manufacturers and molybdenum chemical companies maintained rational pricing. Ferromolybdenum prices dipped slightly by 0.43%, while prices for molybdenum powder, molybdenum bars, and molybdenum salts showed no significant changes.

According to data from Chinatungsten Online, as temperatures continue to drop and environmental crackdowns intensify, the production capacity of molybdenum mining companies has slowed. Additionally, the relatively positive performance of the international molybdenum market and a slight increase in global molybdenum prices have further reduced the willingness of raw material suppliers to concede on pricing.

This week, a molybdenum mine in Henan sold 360 tons of molybdenum concentrate (with ≥50% content) at transaction prices ranging from RMB 3,615 to 3,625 per metric ton. The primary reasons for the persistently low steel bidding prices are as follows:

The unfavorable market conditions for steel, with prices fluctuating downward. Current prices for rebar, hot-rolled coil, and 316/2B stainless steel coil are approximately RMB 3,406/ton, RMB 3,575/ton, and RMB 24,155/ton, respectively.

As the year-end approaches, many steel enterprises are focused on recouping funds, resulting in lower purchasing enthusiasm.

Additional Information:

According to data from the National Bureau of Statistics, the Producer Price Index (PPI) for November fell by 2.5% year-on-year, with the decline narrowing by 0.4 percentage points compared to the previous month. Among the sectors:

Prices in the ferrous metal smelting and rolling processing industry decreased by 8.2%.

Automotive manufacturing prices fell by 3.1%, the same rate of decline as the previous month.

Prices in the non-ferrous metal smelting and rolling processing industry increased by 9.7%.

Prices of molybdenum products on December 13, 2024

Picture of TZM plates 

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