Molybdenum Powder Price - March 20, 2024

Domestically, the overall focus of molybdenum prices continues to decline, with prices of molybdenum concentrate, sodium molybdate, and molybdenum powder decreasing by approximately 20 yuan per ton, 1,000 yuan per ton, and 5 yuan per kilogram, respectively. In this situation, both buyers and sellers are generally cautious, resulting in limited transactions.

According to Chinatungsten Online, bullish factors include: firstly, with the continuous decline in molybdenum product prices in recent days, downstream and end-users have shown increased enthusiasm in inquiries and purchases; secondly, in order to reduce the risk of cost-profit inversion, many steel mills have tentatively raised their quotations, which is conducive to stabilizing molybdenum prices. The bearish factors are mainly influenced by the weak international molybdenum market and the limited quantity of molybdenum iron in steel mill tenders, causing the price of molybdenum concentrate to fall below the 3,400 yuan per ton mark.

In terms of news, data from the National Bureau of Statistics show that from January to February 2024, out of 619 products, 418 saw an increase in production compared to the same period last year. Among them, steel production was 213.43 million tons, an increase of 7.9%; cement production was 182.8 million tons, a decrease of 1.6%; production of ten non-ferrous metals was 12.77 million tons, an increase of 5.7%; ethylene production was 5.15 million tons, a decrease of 0.9%; automobile production was 3.835 million vehicles, an increase of 4.4%, with new energy vehicles accounting for 1.189 million vehicles, an increase of 25.6%; electricity generation was 1.487 trillion kWh, an increase of 8.3%; and crude oil processing was 118.76 million tons, an increase of 3.0%.

Prices of molybdenum products on March 20, 2024

Picture of molybdenum sheets 

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