China Molybdenum Prices - September 22, 2023

This week, China molybdenum prices have shown an overall downward trend, primarily due to reduced market demand, increased profit-taking by some suppliers, and weak international molybdenum market conditions.

However, due to the decline in ferro molybdenum prices and the upcoming National Day holiday, the steel procurement market has become more active. As of now, the total amount of ferro molybdenum in September is approximately 7,000 tons. On September 21st, steel companies that entered the bidding for molybdenum iron included Shougang Group, Wuhan Iron and Steel, Jiangsu Delong, Xining Special Steel, Shougang Group, and Beiman Jianlong Special Steel, among others.

According to information from China Tungsten Online, this week, molybdenum iron prices have decreased by approximately 9,000 CNY per ton compared to the previous week, a decrease of 3.17%. Molybdenum concentrate prices have decreased by about 130 CNY per ton-degree, a decrease of 3.00%. Sodium molybdate prices have decreased by about 7,000 CNY per ton, a decrease of 3.66%. Ammonium heptamolybdate prices have decreased by about 10,000 CNY per ton, a decrease of 3.62%. Molybdenum powder prices have decreased by about 17 CNY per kilogram, a decrease of 3.24%. Molybdenum oxide prices have decreased by about 120 CNY per ton-degree, a decrease of 2.71%.

In terms of news, data from the China Iron and Steel Industry Association shows that the overall operation of the main steel industry in the first eight months of 2023 remained stable. Real estate development investment decreased by 8.8% year-on-year, with a 7.1% decrease in construction area. The production of major products in the machinery industry had mixed year-on-year changes, with excavator production, representing construction machinery, decreasing by 37.4% year-on-year but increasing by 0.9% month-on-month.

Prices of molybdenum products on September 22, 2023

Picture of black TZM rod 

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