China’s Domestic Molybdenum Prices - October 30, 2023

molybdenum powder image At the beginning of the week, domestic molybdenum prices in China continued the overall downward trend observed last week. This is mainly attributed to the strong pricing pressure from steel companies, the ongoing decline in international molybdenum prices, and the relatively rapid capacity release by mining companies.

According to information from China Tungsten Online, the decline in molybdenum raw material prices has been more significant than the price reductions observed for molybdenum chemical products. Currently, prices for molybdenum concentrate, molybdenum iron, and molybdenum powder have fallen to approximately CNY 3,130 per ton, CNY 206,000 per ton, and CNY 425 per kilogram, respectively. In recent days, steel companies such as Shandong Iron and Steel Group, Baosteel (Baoshan Base), Antai Special Powder, and Hengyang Hualing Steel Tube have been involved in the tendering process for molybdenum iron.

In terms of news, data from the China Iron and Steel Industry Association indicates that as of the end of September 2023, the China Steel Price Index (CSPI) stood at 108.40 points, showing a month-on-month increase of 0.06 points, equivalent to a rise of 0.06%. However, when compared to the end of the previous year, it experienced a decrease of 4.85 points, or 4.28%. Moreover, in a year-on-year comparison, it decreased by 4.36 points, which is a drop of 3.87%. For the first nine months of 2023, the average value of the China Steel Price Index was 111.91 points, reflecting a year-on-year decline of 14.79 points, or 11.67%.

Prices of molybdenum products on October 30, 2023

China molybdenum prices image

Picture of molybdenum powder

molybdenum powder image

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