Chinese Molybdenum Market - November 13, 2024

Chinese molybdenum market continues to show a stalemate pattern. With supply and demand relatively balanced and macroeconomic optimism gradually being absorbed, traders are largely adopting a cautious wait-and-see approach. This has resulted in low market activity and limited transaction volumes.

Molybdenum Concentrate Market: Transaction prices for products are hovering around 3,750 yuan per ton unit, primarily due to moderate downstream demand, strong confidence from suppliers in supporting prices, and weak international molybdenum market influence.

Molybdenum Ferroalloy Market: The market remains under pressure, with the price and quantity in steel mill tenders difficult to increase. As lower-priced sources become tighter, quotes from intermediate smelting companies are relatively stable, around 242,000 yuan per ton.

Molybdenum Chemicals and Products Market: There has been no significant change in the market, as price stability in the raw material market is supported by strong sentiment, and end customers generally maintain demand-based purchases. Suppliers are adjusting their quotes within a reasonable range.

Market News:

According to the Baotou Industry and Information Bureau, in October 2024, among the 14 types of steel products monitored, prices for 12 products, including rebar, high-line wire, and cold-rolled coils, increased month-on-month. Among these, hot-rolled coils (7.5mm×1500) saw the largest price increase, with an average price of 3,484 yuan per ton, up 380 yuan per ton, a 12.2% increase. Year-on-year, 11 products experienced price decreases, with iron concentrate seeing the largest drop. Its average price was 969 yuan per ton, a 166 yuan per ton decrease, or a 14.6% drop. The smallest decline was in high-carbon ferrochrome, with an average price of 8,600 yuan per ton, down 300 yuan per ton, or a 3.4% decrease.

Prices of molybdenum products on November 13, 2024

Picture of MoSi2 heating element 

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