Molybdenum Powder Price - November 6, 2023

molybdenum sheets image At the beginning of the week, Chinese molybdenum market was relatively positive, characterized by a certain degree of price increases in mainstream molybdenum products and increased actual transaction volumes. 

Currently, the prices of molybdenum concentrates, ferro molybdenum, and molybdenum powder have risen to around 3,120 CNY per ton Mo, 215,000 CNY per ton, and 418 CNY per kilogram, respectively. In this situation, the prices of molybdenum iron for steelmaking have also seen some upward movement.

According to information from China Tungsten Online, steel companies that recently participated in the procurement bidding for molybdenum iron include Sichuan Deyang One Steel Plant, Shandong Jueneng Special Steel, Fushun Special Steel, Dalian Special Steel, Shandong Iron and Steel Group (Laiwu), Shandong Steel Group, and Panchang Special Steel. Among them, Sichuan Deyang One Steel Plant tendered for 33 tons at a price of 204,000 CNY per ton, Shandong Jueneng Special Steel for 20 tons at a price of 205,000 CNY per ton, Fushun Special Steel for 90 tons at a price of 206,000 CNY per ton, Dalian Special Steel for 60 tons at a price of 206,000 CNY per ton, and Shandong Iron and Steel Group (Laiwu) for 90 tons at a price of 208,000 CNY per ton.

In terms of news, data from the China Iron and Steel Association shows that in late October 2023, social inventories of five major steel products in 21 cities amounted to 8.57 million tons, down by 4.8% compared to the previous month, down by 4.4% compared to late September, up by 14.0% compared to the beginning of the year, and up by 2.5% compared to the same period last year. Regionally, inventory levels decreased by 6.5% in East China, 6.1% in Southwest China, 7.1% in North China, 5.6% in Central China, 2.5% in South China, 5.0% in Northeast China, and increased by 2.1% in Northwest China.

Prices of molybdenum products on November 6, 2023

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Picture of molybdenum sheets 

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