Sodium Molybdate Prices - March 27, 2024

Chinese molybdenum market has shown slight improvement on March 27, 2024. Although prices of many molybdenum products have not seen significant increases, there has been a noticeable increase in downstream inquiries, and with suppliers willing to make shipments, market transactions remain acceptable.

In the molybdenum concentrate market, transaction prices are generally around 3,360 yuan per mtu, with limited room for negotiation. This is mainly attributed to weak price concession awareness among holders and cautious high-price purchases by buyers. In the ferro molybdenum market, overall activity is relatively high. Despite steel prices still being weak, as April approaches, many steel companies such as Xinyu Iron & Steel and Xiangtan Iron & Steel continue to consume, to maintain normal operations. However, their offers are relatively low, at about 218,500 yuan per ton. 

In the molybdenum chemical and its products market, there is a strong atmosphere of wait-and-see, with both buyers and sellers mainly engaging in demand-based transactions. Prices of sodium molybdate, ammonium molybdate, and molybdenum powder remain temporarily stable.

In terms of news: According to data from the Baotou Industry and Information Bureau, in February, the prices of three types of non-ferrous metal products, aluminum products, copper products, and magnesium ingots monitored, all showed a downward trend compared to the previous month. The average price of magnesium ingots was 21,600 yuan per ton, down 1.6% month-on-month and 6.5% year-on-year; the price of aluminum products increased year-on-year, while the prices of magnesium ingots and copper products decreased. Specifically, the average price of electrolytic aluminum was 18,790 yuan per ton, down 1.1% month-on-month and up 0.8% year-on-year; the average price of copper was 68,413 yuan per ton, down 0.1% month-on-month and 1.2% year-on-year.

Prices of molybdenum products on March 27, 2024

Picture of TZM piercing mandrels 

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