Molybdenum Powder Prices - March 11, 2024

At the beginning of the week, the domestic molybdenum market maintained stable operations. With molybdenum manufacturers not rushing to deliver goods and the general sentiment of downstream users in entering the market for operations, trading activity remained subdued, with limited new orders.

Currently, the prices of molybdenum concentrate, ferro molybdenum, and molybdenum powder are stabilizing at around 3,460 yuan per mtu, 228,000 yuan per tonne, and 439 yuan per kilogram, respectively.

According to information from Chinatungsten Online, the main reasons for the difficulty in purchasing low-priced goods in the market are the strong support from production costs, the difficulty in increasing the current spot supply, and the favorable international molybdenum market conditions. Factors affecting market demand include the current high selling prices of molybdenum products, reduced production in many steel mills, and unfavorable steel market conditions.

In terms of news, data from the China Iron and Steel Industry Association shows that by the end of late February 2024, the inventory of steel materials in key steel enterprises was approximately 18.02 million tons. This marks a decrease of 959,000 tons, or 5.05%, compared to the previous ten-day period (i.e., mid-February); an increase of 5.82 million tons, or 47.71%, compared to the same period last month; an increase of about 600,000 tons, or 3.44%, compared to the same period last year; and an increase of 1.919 million tons, or 11.92%, compared to the same period two years ago.

Prices of molybdenum products on March 11, 2024

Picture of molybdenum boats 

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