Molybdenum Concentrate Price - August 14, 2024

The Chinese molybdenum market has maintained a strong overall operation. Despite the unchanged weak supply-demand pattern, suppliers generally have strong confidence in stabilizing prices, while buyers have low willingness to accept goods at high prices, resulting in low market transaction volume.

In the molybdenum concentrate market, the transaction price of products has increased, mainly due to the strong reluctance of molybdenum mining enterprises to sell and raise prices. Recently, the sales price of molybdenum concentrate in a molybdenum mine in Henan was 3640-3660 yuan/ton. 

In the molybdenum iron market, the overall atmosphere is somewhat deadlocked. Despite the average performance of steel bidding volume and price, and the limited room for suppliers to offer discounts, molybdenum iron manufacturers' quotations are relatively stable at around 239000 yuan/ton. 

In the molybdenum chemical and its products market, the overall wait-and-see atmosphere is strong, with end customers mainly purchasing on demand, and cargo holders not in a hurry to ship.

In terms of news, data from the China Iron and Steel Association shows that in early August, the social inventory of 5 major types of steel in 21 cities was 10.21 million tons, a decrease of 1.8% month on month, an increase of 40.1% from the beginning of the year, and an increase of 5.9% from the same period last year. Looking at different regions, inventory in East China decreased by 140000 tons month on month, a decrease of 4.9%; South China reduced by 90000 tons, a decrease of 3.6%; Central China reduced by 40000 tons, a decrease of 3.0%; Northwest and Northeast both decreased by 10000 tons, a decrease of 1.6% and 1.5% respectively; North China increased by 60000 tons month on month, up 5.6%; The inventory in the southwest region remained unchanged on a month-on-month basis.

Prices of molybdenum products on August 14, 2024

Picture of molybdenum plate

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