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Analysis of Molybdenum Prices in China for October 2023

1.Molybdenum Price Trends in October 2023:

According to information from Chinatungsten Online, molybdenum prices in China during October 2023 experienced an overall decline. 

This decline can be attributed to the significant price increases of molybdenum products from late April to mid-September in the same year. These substantial price increases led to a recent decrease in demand as downstream users became wary of the higher prices. Additionally, the large decline in international prices of molybdenum oxide and European molybdenum iron prices in October contributed to the cooling of the domestic molybdenum market. China Tungsten Online reports that the total molybdenum volume for steelmaking bidding in October was approximately 6,300 tons, which was a decrease of about 2,300 tons compared to the previous month. It's worth noting that there was a rebound in molybdenum prices in the latter half of October, characterized by a significant increase. However, this rebound was relatively short-lived, and by the end of the month, prices saw a substantial decline once again.

2.Average Prices of Molybdenum Products from January to October 2023:

During the period from January to October 2023, the average prices of molybdenum products in China saw year-on-year increases: The average price of molybdenum concentrate was 4,052 CNY/ton Mo, reflecting a 50.30% year-on-year increase. The average price of ferro molybdenum was 270,299 CNY/ton, with a 51.55% year-on-year increase. The average price of molybdenum oxide was 4,149 CNY/ton Mo, marking a 48.28% year-on-year increase. The average price of sodium molybdate was 182,104 CNY/ton, showing a 45.10% year-on-year increase. The average price of ammonium molybdate was 261,587 CNY/ton, demonstrating a 51.19% year-on-year increase. The average price of ammonium heptamolybdate was 265,811 CNY/ton, with a 49.14% year-on-year increase. The average price of molybdenum powder was 509 CNY/kg, showing a 51.04% year-on-year increase. The average price of molybdenum bars was 538 CNY/kg, with a 53.28% year-on-year increase.

3.Average Prices of Molybdenum Products in China for October 2023:

In October 2023, the average prices of molybdenum products in China experienced a decrease compared to the previous month but an increase in year-on-year comparisons. The average price of molybdenum concentrate was 3,382 CNY/ton Mo, reflecting a 20.85% decrease month-on-month but a 3.46% increase year-on-year. The average price of ferro molybdenum was 226,368 CNY/ton, with a 19.02% decrease month-on-month but a 4.38% increase year-on-year. The average price of molybdenum oxide was 3,489 CNY/ton, marking a 20.32% decrease month-on-month but a 3.56% increase year-on-year. The average price of sodium molybdate was 152,474 CNY/ton, showing an 18.40% decrease month-on-month and a 2.30% decrease year-on-year. The average price of ammonium molybdate was 224,368 CNY/ton, reflecting a 16.23% decrease month-on-month and a 9.95% increase year-on-year. The average price of ammonium heptamolybdate was 228,316 CNY/ton, with a 15.97% decrease month-on-month and an 8.69% increase year-on-year. The average price of molybdenum powder was 443 CNY/kg, demonstrating a 14.48% decrease month-on-month and a 14.47% increase year-on-year. The average price of molybdenum bars was 480 CNY/kg, with a 12.25% decrease month-on-month but a 20.30% increase year-on-year.

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