Molybdenum Powder Price - October 21, 2024

At the beginning of the week, Chinese molybdenum market remained stable, with a relatively balanced supply and demand situation. The negotiation atmosphere between buyers and sellers appeared somewhat stagnant, resulting in a moderate increase in orders and minimal price fluctuations for products. 

Today, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum powder were steady at approximately 3,810 yuan/ton, 245,000 yuan/ton, and 435 yuan/kg, respectively. Notably, although many steel companies are willing to bid for ferromolybdenum, the low steel bidding prices and the difficulty in finding low-priced sources have placed significant cost-benefit pressures on intermediate smelting enterprises.

Recently, the steel companies bidding for ferromolybdenum include Shougang Qiangang, Deyang Zhizhong, China First Heavy Industries, Deyang Erzhong, Ansteel, and Dalian Special Steel. In terms of news, data from the National Bureau of Statistics indicate that in the third quarter of 2024, the capacity utilization rate of large-scale industrial enterprises in the country was 75.1%, a decrease of 0.5 percentage points compared to the same period last year and an increase of 0.2 percentage points from the second quarter. By major industry, the capacity utilization rates were as follows: coal mining and washing industry at 72.7%, chemical raw materials and products manufacturing at 76.0%, ferrous metal smelting and rolling industry at 77.4%, non-ferrous metal smelting and rolling industry at 78.4%, special equipment manufacturing at 75.8%, automobile manufacturing at 73.2%, and electrical machinery and equipment manufacturing at 75.6%.

Prices of molybdenum products on October 21, 2024

Picture of TZM sheet

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