Molybdenum Concentrate Price - March 25, 2024

At the beginning of the week, the overall domestic molybdenum market maintained a sideways consolidation. 

With downstream users largely maintaining essential procurement and suppliers showing a strong willingness to hold prices, market trading activity was relatively low, with few new orders and difficulty in updating product prices. 

According to Chinatungsten Online's understanding, factors such as weak conditions in the steel market, reduced operating rates of many steel companies, generally average overseas molybdenum market conditions, and difficulty in finding low-priced sources of goods are all important reasons leading to the slow pace of market demand. Currently, molybdenum concentrate and molybdenum iron prices are temporarily stable at around 3,370 yuan per ton and around 221,000 yuan per ton, respectively; prices of 304/2B stainless steel coils and 316/2B stainless steel coils are approximately reduced by around 120 yuan per ton and 195 yuan per ton, respectively.

In terms of news: Data from the China Iron and Steel Industry Association shows that in mid-March 2024, the social inventory of five major varieties of steel in 21 cities was 14.13 million tons, a decrease of 0.6% compared to the previous month, an increase of 93.8% compared to the beginning of the year, and an increase of 11.1% compared to the same period last year. Looking at different regions, inventory levels increased by 5.4% in Northwest China, 1.2% in Central China, remained basically flat in Northeast China, decreased by 4.6% in North China, decreased by 1.6% in South China, decreased by 2.2% in Southwest China, and decreased by 0.6% in East China.

Prices of molybdenum products on March 25, 2024

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Picture of molybdenum powder

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