Molybdenum News Center

China Molybdenum Price - November 10, 2023

This week, China molybdenum price has continued to fluctuate significantly, showing an overall pattern of an initial rise followed by stability. 

At the beginning of the week, influenced by the consecutive rise in international molybdenum prices and the simultaneous increase in steel demand and prices, both molybdenum mining enterprises and ferro molybdenum manufacturers have generally raised their quotations. The price of molybdenum concentrates broke through the 3,200 yuan per ton mark. However, as the international molybdenum price retreated from its peak, downstream users completed their recent procurement plans, and consumer apprehension about high prices increased, the market heat decreased, making it difficult for molybdenum product prices to rise again.

According to statistics from China Tungsten Online, the current price of molybdenum iron has increased by about 7,000 yuan per ton compared to last week, with an increase of 3.33%. The price of molybdenum concentrates has increased by about 100 yuan per ton, with an increase of 3.23%. The price of sodium molybdate has increased by about 1,000 yuan per ton, with an increase of 0.68%. The price of ammonium heptamolybdate has increased by about 1,000 yuan per ton, with an increase of 0.47%. The price of molybdenum powder has increased by about 3 yuan per kilogram, with an increase of 0.72%. The price of molybdenum oxide has increased by about 100 yuan per ton, with an increase of 3.13%. It can be seen that the increase in the price of molybdenum raw materials this week is larger than the increase in the price of molybdenum chemical products.

On November 9, 2023, steel companies participating in the bidding for molybdenum iron included Baosteel (Meishan Iron and Steel), Baosteel (Baoshan Base), Jiangsu Delong Nickel Industry, and Baowu Wuhan Iron and Steel, among others. Baosteel (Meishan Iron and Steel) tendered 30 tons at a price of 204,000 yuan per ton; Baosteel (Baoshan Base) tendered 180 tons at a price of 200,800 yuan per ton; Jiangsu Delong Nickel Industry tendered 32 tons at a price of 205,000 yuan per ton.

In terms of news, according to Xinhua News Agency, in the first three quarters of 2023, the value-added of the non-ferrous metal industry increased by 6.2% year-on-year, which is 2.2 percentage points higher than the industrial average, and production has remained stable. In the first three quarters, the production of ten non-ferrous metals was 55.02 million tons, an increase of 6.8% year-on-year. Among them, refined copper production was 9.55 million tons, a year-on-year increase of 13.4%; primary aluminum production was 30.81 million tons, a year-on-year increase of 3.3%.

Prices of molybdenum products on November 10, 2023

Picture of molybdenum sheets 

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