Molybdenum Product Prices - October 23, 2024

The domestic Chinese molybdenum market remains stable, with a relatively balanced supply and demand relationship. The sentiment among traders is generally moderate, and mainstream molybdenum product prices fluctuate within a reasonable range, with limited actual transaction volume.

In the molybdenum concentrate market, there is a strong prevailing sentiment of wait-and-see. The decrease in downstream demand compared to previous periods and the weakness in the international molybdenum market are the main reasons suppliers find it difficult to raise their quotes. However, due to the limited supply of spot products in the market, the potential for price declines is restricted. In the molybdenum iron market, transaction prices hover around 244,000 yuan per ton, with low steel tender prices and tightening low-priced sources leading to reduced profit margins for intermediate smelting companies. In the molybdenum chemical and product markets, conditions are temporarily stable, with both buyers and sellers mainly engaged in essential transactions. Current quotes for sodium molybdate and molybdenum powder are approximately 169,000 yuan per ton and 435 yuan per kilogram, respectively.

In terms of news, data from the China Iron and Steel Association indicates that from January to September 2024, the water consumption of key statistical steel enterprises reached 73.517 billion cubic meters, an increase of 1.010 billion cubic meters year-on-year, up by 1.39%. Specifically, the water intake decreased by 38.2112 million cubic meters compared to the same period last year, a decline of 2.95%. Meanwhile, the amount of reused water increased by 1.048 billion cubic meters year-on-year, a growth of 1.47%. The reuse rate stands at 98.29%, an increase of 0.08 percentage points year-on-year, with water intake per ton of steel at 2.32 cubic meters, down by 0.56% year-on-year.

Prices of molybdenum products on October 23, 2024

Picture of TZM rods 

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