Chinese Molybdenum Price - April 17, 2024

Chinese molybdenum price maintains a stable and slightly strong trend, with a relatively balanced supply-demand relationship. However, discussions between buyers and sellers are somewhat stagnant, mainly due to weak price concessions from suppliers and low willingness from buyers to accept high prices, resulting in moderate market activity.

 Today, molybdenum concentrate and ferro molybdenum are priced at around 3,300 yuan per mtu and 217,000 yuan per ton, respectively.

According to Chinatungsten Online, market bullish factors include: First, downstream demand remains moderate, with total steel purchase of molybdenum iron reaching about 9,000 tons in April. Second, some steel prices have risen, reducing pressure from steel mills to lower prices. Third, current spot inventories in the market are not large. Bearish factors include: First, weak international molybdenum market conditions, leading to a slight decline in molybdenum prices. Second, the strong resilience of the supply chain's capacity, resulting in limited hoarding intentions from downstream users. Third, global economic growth remains weak, compounded by various geopolitical tensions, leading to cautious investor sentiment.

In terms of news: Monitoring data from Jiangxi Steel Market and Fuzhou Trading Square Steel Market shows that in March, among the 44 steel varieties monitored across the province, 6 saw price increases, 37 saw decreases, and 1 remained unchanged compared to the previous month. The average sales prices of wire rods (6.5mm high line HPB300 and 8mm high line HPB300) were 3,977.50 yuan/ton and 3,927.50 yuan/ton respectively, with decreases of 5.43% and 5.26% compared to the previous month, and decreases of 15.31% and 14.72% respectively compared to the same period last year. The average sales price of rebar (φ12mm HRB400E) was 3,745.00 yuan/ton, down 5.43% month-on-month and 15.31% year-on-year.

Prices of molybdenum products on April 17, 2024

Chinese molybdenum price image

Picture of black TZM rod 

black TZM rod image

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