Molybdenum Oxide Prices - November 22, 2023

The overall situation in the domestic molybdenum market remains relatively weak, influenced by the ongoing issue of supply-demand imbalance. Buyers hold a significant advantage in the market, and some suppliers are voluntarily lowering prices to secure more orders. 

Currently, both molybdenum concentrate and molybdenum oxide prices have fallen below the thresholds of RMB 2,900/ton Mo and RMB 3,000/ton Mo, respectively.

In the molybdenum concentrate market, overall transactions are acceptable, but prices are relatively low. The transaction prices for 40%-45% molybdenum concentrate range between RMB 2,840/ton and RMB 2,870/ton. Notably, a molybdenum mine in Heilongjiang has set its latest molybdenum concentrate price at RMB 2,860/ton (accepted).

In the molybdenum iron market, there is overall downward pressure. Despite the significant drop in molybdenum concentrate selling prices, for intermediate smelting enterprises, the molybdenum concentrate prices remain relatively high. This is mainly due to the strong price pressure from steel companies like Shanxi Taigang, with steel tender prices generally below RMB 185,000/ton.

In the molybdenum chemicals and products market, the supply-demand fundamentals are relatively good. End customers are mainly focused on sales and production planning, while suppliers are closely monitoring changes in the upstream market to adjust quotations reasonably.

In terms of news, according to data from the World Metal Bulletin, as of the end of 2022, China's iron ore reserves were 16.246 billion tons. Liaoning, Hebei, Inner Mongolia, Anhui, and Sichuan are the top five provinces in terms of iron ore reserves, with reserves of 3.955 billion tons, 2.191 billion tons, 1.479 billion tons, 1.273 billion tons, and 1.17 billion tons, respectively, accounting for 24.3%, 13.5%, 9.1%, 7.8%, and 7.2% of the national reserves, respectively.

Prices of molybdenum products on November 22, 2023

Picture of TZM rods 

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