Sodium Molybdate Prices - May 6, 2024

Domestic molybdenum market overall maintains a relatively positive trend. 

Influenced by minor price decreases in various molybdenum products at the end of April and the widespread determination of molybdenum mining companies to hold prices, there has been an increase in inquiries from downstream users after the holiday, leading to slight price increases in molybdenum concentrate, molybdenum iron, and molybdenum oxide products.

As of May 6, 2024, prices for molybdenum concentrate, sodium molybdate, and molybdenum powder are approximately 3,570 yuan/ton, 173,000 yuan/ton, and 452 yuan/kg, respectively. Recently, industry players have been closely monitoring post-holiday steel demand and prices as well as the shipment situation of molybdenum mining companies.

In terms of news, data from the China Iron and Steel Association shows that by the end of April 2024, social inventories of five major steel products in 21 cities totaled 11.99 million tons, a decrease of 3.1% compared to late March, a decrease of 12.7% compared to late March, an increase of 64.5% compared to the beginning of the year, and an increase of 4.2% compared to the same period last year. Looking at different regions, inventory levels decreased by 9.9% in North China, 0.3% in South China, 1.3% in Southwest China, 7.9% in Northwest China, 4.2% in Central China, 1.8% in East China, and 2.3% in Northeast China.

Prices of molybdenum products on May 6, 2024

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Picture of molybdenum sheets

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