Molybdenum Oxide Price - July 10, 2024

The domestic molybdenum market is exhibiting a steady strengthening trend, primarily due to concentrated bidding by steel companies and strong price-supporting sentiment among molybdenum mining enterprises. Prices for molybdenum concentrate, ferromolybdenum, and molybdenum oxide have risen to around 3,700 yuan/metric ton unit, 239,000 yuan/ton, and 3,800 yuan/metric ton unit, respectively.

On the supply side, several factors are at play:

1.Extreme weather conditions and stricter environmental policies have slowed down production capacity releases from some molybdenum manufacturers.

2.High international molybdenum prices and the exchange rate of the US dollar to the Chinese yuan have somewhat impacted the volume of molybdenum raw material imports.

3.Many suppliers currently have a significant number of orders to fulfill, leading to difficulties in increasing market spot inventory levels.

On the demand side, the current molybdenum prices are not high, and there is strong bullish sentiment for the future. This has significantly stimulated the purchasing desire of buyers. Additionally, many downstream users have low remaining raw material stocks, further increasing market demand.

In related news, the "Liaoning Province Air Quality Continuous Improvement Action Implementation Plan" mentions advancing emission reductions in key industries and regions. By the end of 2025, over 80% of the province's steel production capacity will complete ultra-low emission transformations. Cement, coking, and coal-fired boilers (including power) with capacities above 65 tons/hour will also undergo ultra-low emission transformations. Huludao City is strengthening sulfur dioxide emission controls, aiming for a 20% reduction in average sulfur dioxide concentration in the air by 2025 compared to 2020.

Prices of molybdenum products on July 10, 2024

Picture of CMC molybdenum alloy 

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