China Molybdenum Price - November 8, 2024

This week, China molybdenum price remained steady overall, with transaction prices for molybdenum oxide, ferromolybdenum, and ammonium tetramolybdate hovering around 3,840 yuan per ton, 242,000 yuan per ton, and 230,000 yuan per ton, respectively.

Supply Side:

Although downstream inquiries and purchasing enthusiasm have recently declined, the limited availability of raw materials, the positive outlook for downstream molybdenum-related industries, and short-term favorable market expectations are supporting stable price quotations from suppliers.

Demand Side:

With relatively tight funding conditions and high raw material prices, steel enterprises and end customers are primarily observing market developments and making purchases based on immediate needs.

Market Data:

According to the China Iron and Steel Association, as of late October 2024, steel inventory among key steel enterprises totaled 13.64 million tons, a month-on-month decrease of 11.8%, a 10.4% increase since the beginning of the year, a 4.5% decrease compared to the same period last month, a 0.9% decline compared to the same period last year, and a significant 17.2% reduction from two years ago.

Regional Breakdown:

Northeast: Inventory decreased by 180,000 tons

East China: Inventory decreased by 910,000 tons

Northwest: Inventory decreased by 60,000 tons

Southwest: Inventory decreased by 50,000 tons

Central-South: Inventory decreased by 700,000 tons

North China: Inventory increased by 20,000 tons

These regional changes reflect diverse supply and demand dynamics, with most areas experiencing declines in steel stock levels. The molybdenum market continues to be shaped by fluctuating inventories and raw material pricing, with cautious buying activity amid uncertain economic conditions.

Prices of molybdenum products on November 8, 2024

Picture of molybdenum boats

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