Molybdenum Powder Price - September 29, 2024

The domestic molybdenum market has remained stable, with prices for molybdenum concentrate, ferromolybdenum, and molybdenum powder reported at approximately 3,690 yuan per ton, 239,000 yuan per ton, and 435 yuan per kilogram, respectively.

On the supply side, as the National Day holiday approaches, some molybdenum manufacturers have slowed down their production output, leading to a more gradual increase in raw material inventory levels. This is further supported by healthy downstream demand. However, with the appreciation of the Chinese yuan, there is potential for an increase in China's molybdenum raw material imports. Currently, the exchange rate stands at approximately 7.01 yuan per US dollar.

On the demand side, the traditional peak consumption season in September and October, often referred to as the "Golden September and Silver October," has spurred active procurement inquiries from downstream users. As of now, the total volume of ferromolybdenum purchased through September steel tenders has exceeded 13,000 tons.

According to data from the China Iron and Steel Association (CISA), in mid-September 2024, key steel enterprises produced a total of 19.89 million tons of crude steel, with an average daily production of 1.989 million tons, representing a 2.7% increase compared to the previous period. Pig iron output reached 18.12 million tons, with an average daily production of 1.812 million tons, up 1.6% from the prior period. Steel output stood at 19.32 million tons, with an average daily production of 1.932 million tons, an increase of 3.6%.

Based on these figures, it is estimated that the nationwide daily crude steel output during this period was approximately 2.52 million tons, an increase of 2.2%. Daily pig iron output was 2.19 million tons, a rise of 1.2%, and daily steel output reached 3.64 million tons, up 1.7%.

This data highlights stable demand from the steel industry, supporting the overall molybdenum market performance.

Prices of molybdenum products on September 29, 2024

Picture of MoSi2 heating elements 

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