Molybdenum Powder Prices - July 1, 2024

At the beginning of the week, the domestic Chinese molybdenum market maintained a generally weak and stable operation. This is mainly attributed to the moderate enthusiasm of downstream users for inquiries and purchases and the reluctance of raw material suppliers to rush shipments. 

Currently, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum powder are roughly stabilized at 3,680 yuan per mtu, 238,000 yuan per ton, and 445 yuan per kilogram, respectively. At the end of June, the sharp decline in molybdenum product prices not only increased buyers' consumption desire but also forced suppliers to enhance their profitability awareness. Notably, today’s bottoming rebound in international molybdenum prices helps to warm up the domestic molybdenum market.

In terms of news, data from the China Iron and Steel Association shows that in mid-June 2024, key steel enterprises produced a total of 21.8512 million tons of crude steel, 19.6015 million tons of pig iron, and 20.9805 million tons of steel. Among them, the daily output of crude steel was 2.1851 million tons, a decrease of 2.81% from the previous period and a decrease of 3.43% compared with the same period last year. The daily output of pig iron was 1.9601 million tons, a decrease of 1.46% from the previous period and a decrease of 2.87% compared with the same period last year. The daily output of steel was 2.0980 million tons, a decrease of 1.02% from the previous period and a decrease of 3.21% compared with the same period last year.

Prices of molybdenum products on July 1, 2024

Picture of MoSi2 heating element 

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