Ammonium Molybdate Price - April 22, 2024

At the beginning of the week, Chinese molybdenum market showed positive momentum, mainly reflected in the continued increase in prices of various molybdenum products, relatively active inquiries and purchases from downstream users, and a widespread strong willingness among suppliers to withhold sales and maintain prices. 

Today, the price of ferro molybdenum has risen by another 2,000 yuan per ton, the price of molybdenum concentrate has increased by another 50 yuan per ton of molybdenum oxide, and the price of ammonium molybdate has increased by another 2,000 yuan per ton. Recently, steel companies such as Angang Steel, Qingshan Group, Panchang Special Steel, and Deyang Erzhong have entered the bidding for molybdenum iron. As of now, the total amount of molybdenum iron tendered in April has exceeded 10,000 tons.

In terms of news: According to data from the China Iron and Steel Association, as of the end of the first half of April 2024, the inventory of steel materials in key steel companies was about 18.2538 million tons, a decrease of 173,600 tons or 0.94% from the previous half-month (late March); a decrease of 1.2702 million tons or 6.51% from the same period last month; a decrease of about 66,200 tons or 0.36% from the same period last year; and a decrease of 234,300 tons or 1.27% from the same period two years ago.

Prices of molybdenum products on April 22, 2024

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