Molybdenum Product Prices – July 26, 2024

This week, the overall domestic molybdenum market has been generally stable. Although some molybdenum product prices have shown a downward adjustment due to low steel company bids, the reduction has been minor. This is mainly due to satisfactory downstream inquiries, strong production cost support, and limited market spot supply.

According to Chinatungsten Online, the ferro-molybdenum market has been significantly pressured this week. Factors such as low steel bid prices, difficulty in sourcing low-priced molybdenum concentrate, and persistently high energy prices have resulted in substantial cost-benefit inversion risks for intermediate smelting enterprises. To mitigate these risks, some ferro-molybdenum manufacturers have preemptively begun to reduce production or halt operations for maintenance.

Data from the China Iron and Steel Association shows that from January to June 2024, the key statistical steel enterprises' water consumption was 47.635 billion cubic meters, an increase of 1.027 billion cubic meters year-on-year, up 2.20%. Water intake decreased by 26.4559 million cubic meters compared to the same period last year, down 3.15%. The volume of reused water increased by 1.054 billion cubic meters year-on-year, up 2.30%. The reuse rate was 98.29%, an increase of 0.09 percentage points year-on-year. The water intake per ton of steel was 2.24 cubic meters per ton, down 1.83% year-on-year.

Prices of molybdenum products on July 26, 2024

Picture of molybdenum rhenium blocks 

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