Chinese Molybdenum Prices - December 4, 2023

At the beginning of the week, the overall focus of Chinese molybdenum prices still saw a slight upward shift, with quotations for molybdenum concentrate and ferro molybdenum breaking through the thresholds of 3,100 yuan/ton Mo and 210,000 yuan/ton, respectively. 

With relatively favorable international molybdenum market conditions and steel companies entering tenders one after another, most suppliers have a high willingness to hold back sales. In the short term, industry participants are closely monitoring the volume and price situation of steel tenders. Recently, steel companies participating in tenders for molybdenum iron include Ju Neng Special Steel in Shouguang, Hengyang Hualing Steel Pipe in Hengyang, Wuhan Iron and Steel, and others.

In terms of news, data from the China Iron and Steel Industry Association shows that in October, China imported 668,000 tons of steel, an increase of 28,000 tons compared to the previous month and a decrease of 104,000 tons year-on-year. The average import price was $1,517.1 per ton, a 7.1% decrease month-on-month and an 11.2% decrease year-on-year. In October, China exported 7.939 million tons of steel, a decrease of 124,000 tons compared to the previous month and an increase of 2.755 million tons year-on-year. The average export price was $792.0 per ton, a 2.7% decrease month-on-month and a 39.4% decrease year-on-year.

Prices of molybdenum products on December 4, 2023

Picture of molybdenum wires 

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