Molybdenum Product Prices - September 4, 2024

Chinese molybdenum market is steadily rising overall, with various molybdenum product prices experiencing different degrees of increase and a satisfactory volume of spot transactions. 

Today, prices for molybdenum concentrate, ferromolybdenum, and ammonium tetramolybdate have risen by approximately ¥40 per metric ton unit, ¥1,000 per ton, and ¥2,000 per ton, respectively.

In the molybdenum concentrate market, trading activity is relatively high, mainly due to the willingness of many downstream users to purchase and an increased desire among molybdenum mining companies to realize profits. Recently, 810 tons of molybdenum concentrate from Luoyang Shenglong Mining were sold at prices ranging from ¥3,760 to ¥3,795 per metric ton unit. 

In the ferromolybdenum market, overall pressure remains evident. Although steel bidding prices have been rising recently, the increase is still smaller than the rise in molybdenum concentrate prices, making it difficult for intermediate smelting companies to set prices. 

In the molybdenum chemical and product markets, the overall sentiment is cautious. While supplier prices have increased due to the continuous rise in molybdenum raw material prices, demand from end customers still needs to catch up.

According to data from the China Iron and Steel Association, in late August, social inventories of five major steel products in 21 cities stood at 9.36 million tons, down 7.8% from the previous period, down 10.0% from late July, up 28.4% from the beginning of the year, and down 2.7% year-on-year. Regionally, inventories decreased by 310,000 tons in East China (down 11.6%); by 180,000 tons in South China (down 7.2%); by 120,000 tons in Central China (down 9.2%); by 100,000 tons in North China (down 9.0%); by 70,000 tons in Southwest China (down 5.5%); and by 10,000 tons in both Northwest and Northeast China (down 1.6%).

Prices of molybdenum products on September 4, 2024

Picture of MoSi2 heating elements 

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