Ferro Molybdenum Price - October 24, 2022

At the beginning of the week, China’s domestic molybdenum price maintained a high level as a whole. Under the circumstance that the international molybdenum price declined slightly and the purchase hesitancy of downstream users increased, the market was generally hot, and the transactions were mostly based on rigid demand. 

However, supported by the production cost, the low spot inventory of molybdenum raw materials and the good development of molybdenum downstream industries such as the military and new energy industries, suppliers have basically maintained firm quotations. Currently, the prices of molybdenum concentrate and ferro molybdenum are consolidating at around RMB 3,390/ton and RMB 226,000/ton respectively.

In terms of news: In mid-October 2022, the social inventory of 5 major types of steel in 21 cities was 8.62 million tons, down 4.5% from the previous month, up 9.4% from the beginning of the year, and down 17.2% from the same period last year. In terms of regions, inventory in South China decreased by 6.8% month-on-month, Southwest China decreased by 8.7%, Northeast China decreased by 17.1%, East China decreased by 2.4%, Northwest China decreased by 2.0%, Central China decreased by 1.0%, and North China increased by 2.2%.

Prices of molybdenum products on October 24, 2022

Picture of TZM rod 

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