Molybdenum Oxide Price – February 26, 2024

At the beginning of the week, the overall Chinese molybdenum market continued to maintain a slightly strong trend. 

Last week, driven by the concentrated entry of steel companies in bidding for ferro molybdenum, the strong speculative sentiment of molybdenum mining companies, and the relatively favorable international molybdenum market conditions, the prices of molybdenum concentrate and molybdenum oxide respectively broke through the thresholds of 3,400 yuan per mtu and 3,500 yuan per mtu. However, with the continuous increase in the selling prices of molybdenum products, market price negotiations are gradually intensifying.

In terms of news: According to data from the National Bureau of Statistics, in January 2024, the ex-factory prices of industrial producers nationwide decreased by 2.5% year-on-year and 0.2% month-on-month; the purchase prices of industrial producers decreased by 3.4% year-on-year and 0.2% month-on-month. In terms of ex-factory prices of industrial producers, prices in the mining industry decreased by 6.0%, prices in the raw materials industry decreased by 2.3%, and prices in the processing industry decreased by 3.1%, with declines narrowing. In terms of purchase prices of industrial producers, prices of fuel and power decreased by 6.7%, prices of chemical raw materials decreased by 5.7%; prices of ferrous metal materials remained unchanged; prices of non-ferrous metal materials and wires increased by 1.5%.

Prices of molybdenum products on February 26, 2024

Picture of TZM blocks

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