Chinese Molybdenum Prices - November 13, 2023

At the beginning of the week, the overall focus of Chinese molybdenum prices slightly shifted downward, primarily due to increased price pressure from steel companies and the retracement of international molybdenum prices. 

According to information from Chinatungsten Online, steel companies such as Hengyang Hualing Steel Pipe, Shouguang Jueneng Special Steel, and Jiangsu Yonggang have recently entered bids for molybdenum iron, with bid prices generally below 205,000 yuan per ton. Currently, the international price of molybdenum oxide has fallen to around $17.8 per pound of molybdenum. However, to avoid the risk of cost inversion, the downward adjustment of quotes by intermediate smelting enterprises is limited.

In terms of news, according to the official website of the Jiangxi Provincial Development and Reform Commission, monitoring data for the steel markets in Jiangxi and Fuzhou Trade Square Steel Market in October 2023 showed that among the 44 monitored steel varieties in Jiangxi Province, prices of 33 increased, 2 remained unchanged, and 9 decreased compared to the previous month. The average sales prices of wire rod (high-quality wire 6.5, HPB300, and high-quality wire 8, HPB300) were 4,000.00 yuan/ton and 3,965.00 yuan/ton, respectively, with slight month-on-month declines of 1.11% and 1.37%, and year-on-year declines of 8.96% and 12.34%, respectively. The average sales price of rebar (φ12mm HRB400E) was 3,798.33 yuan/ton, showing a slight month-on-month decline of 1.37% and a year-on-year decline of 12.34%.

Prices of molybdenum products on November 13, 2023

Picture of molybdenum sheets 

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