China Molybdenum Price - January 19, 2024

This week, China molybdenum price is showing a downward consolidation, primarily due to poor performance in the international molybdenum market, a slowdown in steel mill bidding, and a slight increase in downstream user price pressure. However, due to support from production costs, suppliers have limited room to offer discounts.

According to statistics from China Tungsten Online, compared to last week, the current prices have decreased approximately 4,000 yuan per ton for ferro molybdenum, a decrease of 1.80%; 70 yuan per ton for molybdenum concentrate, a decrease of 2.09%; 2,000 yuan per ton for sodium molybdate, a decrease of 1.24%; 2,000 yuan per ton for ammonium heptamolybdate, a decrease of 0.90%; 2 yuan per kilogram for molybdenum powder, a decrease of 0.46%; and 40 yuan per ton for molybdenum oxide, a decrease of 1.17%. It can be observed that this week, the raw material prices for molybdenum increased more significantly compared to the prices of molybdenum chemical products.

Recently, steel companies participating in molybdenum iron tenders include Shanxi Taiyuan Iron & Steel (Xinhai Base), Shougang Group, Delong Nickel Industry, Lianyuan Iron and Steel, Dalian Special Steel, Fushun Special Steel, and Hualing Lian Steel. Among them, Shanxi Taiyuan Iron & Steel tendered 30 tons at a price of 218,000 yuan per ton, while Shougang Group tendered 30 tons at a price of 215,000 yuan per ton.

In terms of news, according to data from the National Bureau of Statistics, in December 2023, among the 41 major industries, the value-added of 31 industries maintained year-on-year growth. Specifically, the chemical raw materials and chemical product manufacturing industry grew by 11.0%, the non-metallic mineral products industry grew by 0.3%, the black metal smelting and rolling processing industry grew by 2.1%, the non-ferrous metal smelting and rolling processing industry grew by 12.9%, the general equipment manufacturing industry grew by 4.6%, the special equipment manufacturing industry grew by 3.6%, the automotive manufacturing industry grew by 20.0%, the railway, ship, aerospace, and other transportation equipment manufacturing industry grew by 5.6%, the electrical machinery and equipment manufacturing industry grew by 10.1%, and the electricity, heat production, and supply industry grew by 5.8%.

Prices of molybdenum products on January 19, 2024

Picture of molybdenum foil 

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