Molybdenum Powder Price - October 30, 2024

Chinese molybdenum market is generally maintaining a sideways operation at the end of October 2024. With downstream demand stabilizing and suppliers having limited room to lower prices, market activity is moderate and transactions are limited. 

Currently, the prices for molybdenum concentrate, molybdenum iron, and molybdenum powder are stable at around 3,750 yuan/ton, 242,000 yuan/ton, and 435 yuan/kg, respectively.

According to Chinatungsten Online, the main reasons for raw material suppliers maintaining firm quotes are: first, some downstream users are still willing to purchase; second, the international molybdenum market is relatively stable, with slight increases in the prices of international molybdenum oxide and European molybdenum iron; third, production costs provide strong support for prices. The primary reason for the decrease in market demand compared to earlier periods is that downstream enterprises made bulk purchases of raw materials previously, so there is no urgent need for consumption recently.

In terms of news, data from the China Iron and Steel Association shows that in mid-October 2024, among the six major regions, all regions except the northwest experienced varying degrees of increase in daily steel output from key statistical enterprises. The northeast region saw an increase of 18,000 tons, the north China region an increase of 22,000 tons, the east China region an increase of 8,000 tons, and the southwest region an increase of 8,000 tons; the northwest region saw a decrease of 2,000 tons in daily steel output.

Prices of molybdenum products on October 30, 2024

Picture of MoSi2 heating element 

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