Ammonium Heptamolybdate Price – March 18, 2024

At the beginning of the week, Chinese molybdenum market maintained a relatively weak trend. Although supported by factors such as high production costs, limited spot supply in the market, and downstream users maintaining basic demand procurement, most suppliers were unwilling to lower prices for shipments. 

However, due to low bidding from steel mills and the continued decline in international molybdenum prices, market trading activity remained low, with only a few rational suppliers offering discounts for shipments. Currently, the prices of molybdenum concentrate, ferro molybdenum, and ammonium heptamolybdate are around 3,410 yuan per mtu, 223,000 yuan per tonne, and 225,000 yuan per tonne, respectively.

In terms of news, according to data from the China Iron and Steel Industry Association, in early March 2024, the daily crude steel output nationwide was 2.4867 million tons, a decrease of 2.77% compared to the previous period; the daily pig iron output was 2.1439 million tons, a decrease of 1.37% compared to the previous period; and the daily steel output was 3.335 million tons, a decrease of 3.28% compared to the previous period. By the end of early March 2024, the inventory of key steel companies was approximately 19.5239 million tons, an increase of 1.504 million tons, or 8.35%, from the previous period; an increase of 3.392 million tons, or 21.03%, from the same period last month; an increase of approximately 1.82 million tons, or 10.28%, from the same period last year; and an increase of 2.842 million tons, or 17.04%, from the same period two years ago.

Prices of molybdenum products on March 18, 2024

Picture of molybdenum boat 

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