Chinese Molybdenum Price - December 1, 2023

Details: Category: Tungsten's News; Published on Friday, 01 December 2023 16:45

This week, Chinese molybdenum price trend shows a distinct contrast with the previous week, exhibiting a volatile upward movement.

This is primarily attributed to the current phase of changing months and the relatively low prices of molybdenum products, leading to increased enthusiasm for downstream user inquiries and purchases. Additionally, the bottoming rebound of international molybdenum prices this week also contributes to the warming of the domestic molybdenum market. In the short term, industry participants have relatively high expectations for the future market.

According to statistics from Chinatungsten Online, the current molybdenum iron price has increased by approximately 16,000 yuan/ton compared to the previous week, marking an 8.33% increase. The molybdenum concentrate price has risen by about 190 yuan/ton-degree, representing a 6.62% increase. Sodium molybdate prices have increased by about 5,000 yuan/ton, with a 3.62% increase. Ammonium heptamolybdate prices have risen by about 8,000 yuan/ton, reflecting a 4.08% increase. Molybdenum powder prices have increased by about 15 yuan/kg, indicating a 3.85% increase. The price of molybdenum oxide has risen by about 200 yuan/ton-degree, with a 6.73% increase. It can be observed that this week, the increase in raw material prices for molybdenum is larger than the increase in prices for molybdenum chemical products. Among them, the price of molybdenum iron has shown the highest increase, mainly due to the increased support from production costs and the higher bids from numerous steel companies.

In November 2023, the total amount of molybdenum iron for steel bids was approximately 10,400 tons, a significant increase compared to October's 6,300 tons, an increase of about 4,100 tons. In recent days, steel companies that have entered bids for molybdenum iron include Shandong Juneng Special Steel (20 tons), Shougang Corporation (30 tons), Shangang Laiwu (60 tons), and Hegang Group (33 tons).

In terms of news, data from the China Iron and Steel Industry Association shows that at the end of October, China's Steel Price Index (CSPI) was 107.50 points, a decrease of 0.90 points compared to the previous month, with a decline of 0.83%. Compared to the end of the previous year, it decreased by 5.75 points, a decline of 5.08%. Year-on-year, it decreased by 2.00 points, a decline of 1.83%. From January to October, the average value of China's Steel Price Index was 111.47 points, a year-on-year decrease of 13.69 points, representing a decline of 10.94%.

Prices of molybdenum products on December 1, 2023

Chinese molybdenum price image