Chinese Molybdenum Prices - December 6, 2023

There has been another occurrence of a surge followed by a retreat in domestic Chinese molybdenum prices on December 6, 2023. Both molybdenum concentrates and molybdenum oxide have experienced a decrease of approximately 50 yuan per ton Mo, while ferro molybdenum has seen a reduction of around 3,000 yuan per ton. In this scenario, market transactions are generally moderate.

Looking at the supply side, firstly, due to relatively favorable recent weather conditions and a slight decline in energy prices such as oil, molybdenum manufacturers have maintained normal production, resulting in a relatively abundant supply in the spot market. Secondly, the current overseas molybdenum prices are not high, and the purchasing power of the Chinese yuan is strong, which is conducive to an increase in the import volume of molybdenum raw materials. On the demand side, factors such as the current molybdenum prices being higher than those at the end of November, downstream production enterprises having essentially completed their procurement plans, and fluctuations in steel prices trending downward, have contributed to a recent decrease in market demand. Currently, molybdenum oxide prices are generally below 205,000 yuan per ton.

In terms of news, according to recent changes in international oil prices, and in accordance with the current mechanism for determining refined oil prices, starting from 24:00 on December 6, 2023, the domestic prices of gasoline and diesel (standard products) will be reduced by 55 yuan and 50 yuan per ton, respectively.

Prices of molybdenum products on December 6, 2023

Picture of molybdenum sheets 

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