Molybdenum Powder Price - September 23, 2024

The domestic molybdenum market showed an overall trend of stability with a slight weakening. This was mainly reflected in varying degrees of price declines across several molybdenum products and limited spot trading volume. 

Today, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum powder dropped by approximately 3,720 RMB/tonne unit, 240,000 RMB/ton, and 435 RMB/kg, respectively.

According to Chinatungsten Online, the recent decline in steel bidding prices is the main factor undermining suppliers' confidence in maintaining stable prices. Recently, steel companies that have entered the market to bid for ferromolybdenum include Rizhao Steel (Shandong Steel), Dalian Special Steel, Baosteel, Fushun Special Steel, Shagang Huai Steel, and Nanjing Iron & Steel (Nanjing Steel).

In terms of industry news, data from the China Iron and Steel Association (CISA) indicates that in early September 2024, the daily crude steel output of key enterprises in North China, Southwest China, and East China increased to varying degrees compared to the previous period, while output in other regions declined. Specifically, North China saw an increase of 38,000 tons per day, Southwest China an increase of 6,000 tons per day, and East China an increase of 23,000 tons per day. On the other hand, Northwest China saw a decrease of 6,000 tons per day, Central-South China a decrease of 11,000 tons per day, and Northeast China a decrease of 2,000 tons per day.

Prices of molybdenum products on September 23, 2024

Picture of TZM rods 

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