Ferro Molybdenum Price - October 18, 2023

Chinese molybdenum market continues to show an overall downward trend on October 18, 2023, mainly due to strong price pressure from steel companies and the continuous decline in international molybdenum prices. 

However, as downstream users have shown increased inquiry activity and due to the support from high production costs and positive prospects for the downstream molybdenum industry, suppliers have narrowed the extent of their price reductions.

In the molybdenum concentrate market, there has been a slight improvement. This is mainly reflected in the increased proactive consumption by ferro molybdenum merchants and relatively stable supplier prices, with product transaction prices hovering around 3,000 yuan per ton Mo.

In the molybdenum iron market, the overall situation remains under pressure. Although many steel companies are willing to participate in ferro molybdenum tenders, the overall sentiment for price reduction is increasing due to the decline in stainless steel prices. This has led to a significant cost pressure for intermediate smelting companies, with current ferro molybdenum price falling below 200,000 yuan per ton.

Recently, steel companies participating in molybdenum iron tenders include Shanxi Taigang, Qingshan Group, Changshu Longteng Special Steel, Huai Steel Special Steel, Anyang Yongxing Special Steel, among others. Shanxi Taigang's tender price is 185,000 yuan per ton with delivery by the end of October. Qingshan Group has tendered 192 tons at a price of 183,000 yuan per ton, while Changshu Longteng Special Steel has tendered 20 tons at a price of 191,500 yuan per ton.

In the molybdenum chemical and its products market, there is a strong atmosphere of caution with limited transactions. Holding firms have reduced their quotes slightly as raw material prices have fallen. Currently, the prices for sodium molybdate, molybdenum powder, and molybdenum rods have fallen to around 141,000 yuan per ton, 410 yuan per kilogram, and 455 yuan per kilogram, respectively.

In terms of news, according to data from the China Iron and Steel Industry Association, as of early October 2023, the steel inventory of key steel enterprises was 16.36 million tons, an increase of 1.11 million tons or 7.31% from late September, an increase of 0.55 million tons or 3.53% from the same period last month, and an increase of 3.29 million tons or 25.14% from the end of last year, an increase of 0.04 million tons or 0.27% from the same period last year, and an increase of 3.52 million tons or 27.40% from the same period two years ago.

Prices of molybdenum products on October 18, 2023

Picture of MoSi2 Heating Elements 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >