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Molybdenum Oxide Price - August 21, 2023

Molybdenum Market on August 21, 2023

At the beginning of the week, China’s domestic molybdenum market is generally experiencing pressure at high levels. The impact of low enthusiasm from downstream users for inquiries and purchases, combined with the continuous decline in international molybdenum prices, has led to a decrease in the stable pricing confidence of many suppliers. 

Suppliers are showing a stronger willingness to actively ship products. However, supported by higher production costs and limited increase in market supply, the decline in molybdenum product prices is relatively modest.

Currently, the transaction prices for ferro molybdenum and molybdenum concentrate are around CNY 280,000 per ton and CNY 4,300 per ton Mo, respectively. In contrast, molybdenum oxide price has fallen below the CNY 4,400 per ton Mo. 

In terms of news: Data from the Market Operation Monitoring System of the Ministry of Commerce shows that from August 7th to 13th, steel prices in the national production materials market experienced a slight decrease. Among them, the prices of rebar, high-speed wire rod, and hot-rolled strip steel were CNY 3,911 per ton, CNY 4,129 per ton, and CNY 4,204 per ton, respectively, representing decreases of 1.2%, 1.2%, and 0.8% respectively. In contrast, the prices of edible agricultural products in the market increased by 0.5% compared to the previous week, while the prices in the production materials market increased by 0.4%.

Prices of molybdenum products on August 21, 2023

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