July 2024 Overview: Stability and Fluctuations in China's Molybdenum Market

Details: Category: Tungsten's News; Published on Wednesday, 31 July 2024 15:57

According to information from Chinatungsten Online, the overall trend of molybdenum product prices in China was relatively stable in July 2024. At the end of the month, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide were slightly higher than at the beginning of the month, while the prices of molybdate, molybdenum powder, and molybdenum bars were slightly lower.

At the beginning of the month, due to poor performance in steel procurement quantities and prices, along with a continuous increase in international molybdenum prices, suppliers were generally reluctant to lower prices. Mid-month, some molybdenum mining companies tentatively raised their quotations, and several ferromolybdenum manufacturers suspended production for maintenance, leading to an increase in prices for many molybdenum products. By the end of the month, molybdenum product prices fluctuated downward again, mainly attributed to steel companies continuously pushing down prices and a weak international molybdenum market. Notably, the total volume of molybdenum iron procured in steel this month exceeded 11,000 tons.

In July 2024, the average price of molybdenum products in China decreased both month-on-month and year-on-year. Among them, the average price of molybdenum concentrate was 3,712 yuan/ton, a decrease of about 3.68% month-on-month and about 5.79% year-on-year; the average price of ferromolybdenum was 239,478 yuan/ton, down about 3.95% month-on-month and about 6.85% year-on-year; the average price of molybdenum oxide was 3,806 yuan/ton, a decrease of about 3.50% month-on-month and about 5.75% year-on-year; the average price of sodium molybdate was 166,739 yuan/ton, down about 3.44% month-on-month and about 4.30% year-on-year; the average price of ammonium paramolybdate was 228,739 yuan/ton, a decrease of about 2.93% month-on-month and about 8.61% year-on-year; the average price of ammonium heptamolybdate was 232,739 yuan/ton, down about 2.56% month-on-month and about 8.06% year-on-year; the average price of molybdenum powder was 442 yuan/kg, a decrease of about 3.70% month-on-month and about 9.05% year-on-year; and the average price of molybdenum bars was 472 yuan/kg, down about 2.28% month-on-month and about 8.17% year-on-year.

From January to July 2024, the average prices of molybdenum products in China decreased year-on-year. Among them, the average price of molybdenum concentrate was 3,547 yuan/ton, a year-on-year decrease of about 12.81%; the average price of ferromolybdenum was 232,057 yuan/ton, down about 15.00% year-on-year; the average price of molybdenum oxide was 3,641 yuan/ton, a decrease of about 12.58% year-on-year; the average price of sodium molybdate was 165,631 yuan/ton, down about 10.25% year-on-year; the average price of ammonium paramolybdate was 224,730 yuan/ton, a decrease of about 15.15% year-on-year; the average price of ammonium heptamolybdate was 228,397 yuan/ton, down about 15.08% year-on-year; the average price of molybdenum powder was 440 yuan/kg, a decrease of about 14.56% year-on-year; and the average price of molybdenum bars was 467 yuan/kg, down about 14.00% year-on-year.

Price Trend of Molybdenum Products in China from January to July 2024