Ammonium Molybdate Price - September 27, 2023

The overall domestic molybdenum prices continue to remain in a downward trend. This is mainly attributed to the weakening of market-supporting factors and the increasing negative factors, leading to a decline in the confidence of suppliers to maintain stable prices. 

Currently, prices for molybdenum concentrate, molybdenum oxide, and ammonium molybdate have fallen below the thresholds of 4,100 CNY per ton Mo, 4,200 CNY per ton, and 260,000 CNY per ton, respectively.

Supporting factors include the following: First, due to production costs, the current spot inventory levels are not very high, and the slowing decline in international molybdenum prices, many suppliers have limited room for price reduction. Second, the industry was in the traditional peak consumption season, and therefore, there were expectations for the future.

Negative factors include the following: First, many downstream users have already completed their pre-holiday procurement plans, resulting in lower market activity. Second, the weak trends in the international molybdenum market and the domestic steel market are not conducive to a resurgence in the domestic molybdenum market.

In terms of news, data from the China Iron and Steel Industry Association shows that in August 2023, the production of three types of strip mills increased year-on-year to varying degrees. Among them, medium-thick plate rolling production reached 6.34 million tons, a year-on-year increase of 4.3%; hot rolling mill production reached 16.91 million tons, a year-on-year increase of 16.0%; cold rolling mill production reached 6.49 million tons, a year-on-year increase of 7.8%.

Prices of molybdenum products on September 27, 2023

Picture of molybdenum wire 

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