Molybdenum Powder Prices - May 15, 2024

Chinese molybdenum market remains stable on May 15, 2024. Influenced by strong reluctance to sell at low prices from molybdenum mining companies, good downstream demand, and the pressure from steel companies to lower prices, market trading activity is moderate. Consequently, transaction prices for products are neither rising nor falling. 

Currently, prices for molybdenum concentrate, ferromolybdenum, and molybdenum powder are stable at approximately 3,750 CNY per ton-degree, 245,000 CNY per ton, and 458 CNY per kilogram, respectively.

According to Chinatungsten Online, several factors are significantly supporting the confidence of molybdenum concentrate suppliers in maintaining their prices. These factors include the limited availability of spot molybdenum concentrate, potential short-term difficulties in molybdenum mining, and the continuous rise in prices of similar metals such as tungsten. Recently, steel companies such as Dalian Special Steel, Fushun Special Steel, Hengyang Valin Steel Tube, Shougang Group, Xiangtan Steel, and Nanjing Iron and Steel have entered the market to bid for ferromolybdenum, with bid prices around 238,000 CNY per ton.

Industry News

According to data from the Molybdenum Industry Association, in April 2024, the national production of molybdenum concentrate was 25,790 tons, a month-on-month increase of 5.8% and a year-on-year increase of 13.5%. Ferromolybdenum production was 18,728 tons, a month-on-month increase of 3.1% and a year-on-year increase of 28.6%. Ammonium molybdate production was 5,658 tons, a month-on-month increase of 6.9% and a year-on-year increase of 20.4%. The total production of molybdenum powder was 1,620 tons, a month-on-month increase of 11.3% and a year-on-year increase of 3.1%.

Prices of molybdenum products on May 15, 2024

Picture of molybdenum electrode 

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