Molybdenum Powder Price - April 15, 2024

At the beginning of the week, Chinese molybdenum market showed a tendency towards weakness. This was primarily reflected in the increasing atmosphere of caution in the market and the varying degrees of decline in the prices of most molybdenum products. 

For example, molybdenum concentrate price decreased by about 20 yuan/mtu, ferro molybdenum decreased by about 2,000 yuan/ton, and molybdenum powder decreased by about 2 yuan/kg. This was mainly due to the continuous rise in molybdenum prices in the middle of last week, with significant increases. This not only prompted suppliers to realize profits but also to some extent weakened the downstream demand. According to information obtained by Chinatungsten Online, steel mills recently offered prices generally around 212,000 yuan/ton.

However, influenced by relatively strong production cost support, the recent stable operation of the non-ferrous metal market, and the continued fluctuation and rise in prices of some steel products such as rebar and wire rod, many molybdenum suppliers have limited room to offer discounts.

In terms of news: According to data from the China Iron and Steel Industry Association, in early April 2024, social inventories of five major varieties of steel in 21 cities totaled 13.08 million tons, a decrease of 4.8% compared to the previous month, an increase of 79.4% compared to the beginning of the year, and an increase of 7.4% compared to the same period last year. In terms of regions, inventories in seven major regions except for the Northeast remained flat, while inventories in other regions decreased to varying degrees: inventories in North China decreased by 10.3%, Central China by 8.5%, Northwest China by 9.6%, South China by 3.5%, Southwest China by 4.1%, and East China by 1.5%, while inventories in the Northeast remained flat compared to the previous month.

Prices of molybdenum products on April 15, 2024

Picture of molybdenum bar 

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