Ferro Molybdenum Price - August 25, 2023

This week, Chinese domestic molybdenum market demonstrated a very positive performance. Supported by factors such as increased activity in the steel tender market, a rebound in international molybdenum prices, and persistent challenges in increasing market spot supply, molybdenum raw material suppliers have regained confidence in raising prices. 

This is evident in the current breakthrough of molybdenum concentrate and molybdenum oxide prices, surpassing the thresholds of CNY 4,400 per ton Mo and CNY 4,500 per ton Mo, respectively.

According to information from China Tungsten Online, this week's ferro molybdenum price increased by about CNY 4,000 per ton compared to the previous week, marking a rise of 1.41%. Molybdenum concentrate price rose by approximately CNY 110 per ton, reflecting a growth of 2.55%. Molybdenum oxide price also saw an increase of around CNY 110 per ton, with a similar growth of 2.55%. However, prices for molybdenum disodium, ammonium heptamolybdate, and molybdenum powder remained stable compared to the previous week.

It's worth noting that due to the slow pace of increase in steel tender prices and the rapid rise in molybdenum concentrate prices, molybdenum iron producers are facing significant cost inversion risks. The current molybdenum iron price is around CNY 288,000 per ton. Additionally, in the absence of improvement in just-in-time procurement by end customers, molybdenum chemical enterprises have maintained relatively stable pricing.

In terms of news, data from the China Iron and Steel Industry Association showed that in mid-August 2023, key steel enterprises produced 22.1498 million tons of crude steel, 19.9708 million tons of pig iron, and 21.5499 million tons of steel. Among them, the daily crude steel production was 221,500 tons, reflecting a 2.89% increase compared to the previous period and a 10.96% increase compared to the same period last year; daily pig iron production was 199,710 tons, indicating a 1.04% increase compared to the previous period and a 7.45% increase compared to the same period last year; daily steel production was 215,500 tons, marking a 5.44% increase compared to the previous period and a 10.74% increase compared to the same period last year.

Prices of molybdenum products on August 25, 2023

Picture of MoSi heating element 

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