Chinese Molybdenum Price - October 7, 2023

Chinese molybdenum price has generally maintained a sideways consolidation trend on October 7, 2023 after the holiday of National Day. This is primarily attributed to the fluctuating international molybdenum prices during the National Day holiday period and the fact that domestic traders have not yet returned to their normal trading activities on the first day after the holiday. 

Currently, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide are adjusting to around 3,850 yuan/ton Mo, 255,000 yuan/ton, and 3,960 yuan/ton Mo, respectively. In the short term, industry participants are closely monitoring the performance of shipments from mining companies and the pricing and demand for steel.

In terms of news, data from the National Bureau of Statistics shows that from January to August 2023, the operating income of the ferrous metal smelting and rolling processing industry reached 5,435.94 billion yuan, a 5.9% decrease compared to the same period last year. Operating costs amounted to 5,235.59 billion yuan, down 5.6% from the same period last year. The total profit was 14.79 billion yuan, marking a 57.1% decrease compared to the same period last year.

Prices of molybdenum products on October 7, 2023

Picture of TZM screws 

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