Molybdenum Oxide Price - October 14, 2024

At the start of the week, the domestic molybdenum market maintained a stable and slightly stronger trend, mainly due to steady downstream demand, increased steel tender prices, and strong support from production costs. 

Today, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide have risen to approximately 3,760 yuan/tonne, 244,000 yuan/tonne, and 3,830 yuan/tonne, respectively. Currently, market participants are focusing on supplier shipments and the performance of steel tender volumes and prices.

Recently, steel companies such as Nanjing Iron and Steel, Dongfang Special Steel, Guangdong Shaogang, Shanxi Taigang, Shougang Qiangang, and Erzhong Equipment have entered the market to tender for ferromolybdenum. In terms of news, data from the National Bureau of Statistics shows that in September 2024, China's industrial producer prices dropped by 0.6% month-on-month, while purchasing prices for industrial producers fell by 0.8%. Month-on-month changes in September industrial producer prices include: prices in the mining industry fell by 1.6%, raw material industry prices decreased by 1.2%, and processing industry prices dropped by 0.6%. As for purchasing prices, black metal materials prices fell by 2.4%, chemical raw materials by 1.1%, construction materials and non-metal products by 0.8%, and non-ferrous metal materials and wire by 0.6%.

Prices of molybdenum products on October 14, 2024

Picture of TZM alloy rods 

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