Molybdenum Powder Prices - January 24, 2024

The domestic Chinese molybdenum market is overall operating steadily. Under the influence of various uncertainties, the negotiating atmosphere between supply and demand is slightly stagnant, resulting in a lukewarm market and difficulties in adjusting product prices. 

Currently, the transaction prices for ferro molybdenum, molybdenum oxide, and molybdenum powder are around CNY 219,000 per ton, CNY 3,410 per mut, and CNY 460 per kilogram, respectively.

According to information gathered by Chinatungsten Online, favorable factors include: firstly, the impact of lower temperatures and stricter environmental protection policies has led to a slowdown in the release of production capacity by some molybdenum mining companies; secondly, there are still many unfulfilled orders for some suppliers, resulting in a lower willingness to reduce shipments; thirdly, with the approaching Chinese New Year, many downstream users are still willing to enter the market for consumption. For example, on January 23, Huaxin Heng Steel invited bids for 60 tons of molybdenum iron, and Angang Steel invited bids for 230 tons of molybdenum iron.

Bearish factors include: firstly, compared to the middle and early December last year, the current selling prices of molybdenum products are relatively high, which to a certain extent affects the enthusiasm of consumers to enter the market for purchases; secondly, influenced by the weak international molybdenum market, it is challenging for the domestic molybdenum market to heat up; thirdly, the situation of inflexible demand from terminal customers is difficult to improve, thus unfavorable for suppliers to raise prices.

Prices of molybdenum products on January 24, 2024

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