Ferro Molybdenum Price - December 18, 2023

At the beginning of the week, the overall Chinese molybdenum market maintained stable operations. With steel companies gradually entering the bidding for ferro molybdenum and the international molybdenum price facing resistance in its upward movement, suppliers are mainly adopting a cautious wait-and-see approach, leading to generally moderate transactions. 

According to information from Chinatungsten Online, current quotations for conventional-grade molybdenum concentrates are somewhat chaotic, ranging between 3,020 yuan/tonne Mo and 3,100 yuan/tonne Mo. As of now, the total quantity of ferro molybdenum tendered by the steel industry for December has exceeded 7,000 tons, and based on current market demand, the total quantity for December is expected to surpass 10,000 tons.

In terms of news, data from the National Bureau of Statistics indicates that in November 2023, China's crude steel production was 76.1 million tons, a year-on-year increase of 0.4%; pig iron production was 64.84 million tons, a year-on-year decrease of 4.8%; and steel production was 110.44 million tons, a year-on-year increase of 4.2%. From January to November 2023, China's crude steel production reached 952.14 million tons, a year-on-year increase of 1.5%; pig iron production was 810.31 million tons, a year-on-year increase of 1.8%; and steel production was 1,252.82 million tons, a year-on-year increase of 5.7%.

Prices of molybdenum products on December 18, 2023

Picture of molybdenum sheets 

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