Chinese Molybdenum Prices - November 14, 2023

MoSi2 heating element image The overall trend of domestic Chinese molybdenum prices is in the downward trend on November 14, 2023. 

Under the mutual influence of various factors, the consumer market is slowly transitioning from a seller's market to a buyer's market. This is mainly reflected in the varying degrees of decline in the prices of numerous molybdenum products and a slow increase in orders. 

According to information from Chinatungsten Online, the current prices of molybdenum concentrate and ferro molybdenum have fallen to around 3,120 yuan/ton Mo and 205,000 yuan/ton, respectively.

Positive factors are mainly supported by relatively high production costs, a manageable export market, limited imports of molybdenum raw materials, and the willingness of some steel companies like Nanjing Iron and Steel, Xining Special Steel, etc., to participate in bidding for molybdenum iron. Negative factors include a slowdown in the consumption pace of many buyers and an increase in price pressure, especially when molybdenum prices are relatively high. Additionally, the continuous decline in international molybdenum oxide and European molybdenum iron is unfavorable for the stable recovery of molybdenum prices in China. The recent sluggish steel market conditions have also to some extent suppressed the rise in molybdenum iron prices. 

According to Zhongtung Zhizao, the current prices are approximately 3,954 yuan/ton for threaded steel, 3,972 yuan/ton for hot-rolled coil, and 26,070 yuan/ton for 316/2B stainless steel coil.

In terms of news, according to data from Baotou Industry and Information Bureau, in October 2023, among the 14 key monitored steel products in Baotou, prices of eight products including seamless pipes, high-grade wire, and hot-rolled coils declined, with channel steel experiencing the highest decrease at an average price of 3,850 yuan/ton, down 4.3% month-on-month. The price of pig iron remained unchanged at 3,045 yuan/ton, while prices of the remaining five products increased month-on-month. On a year-on-year basis, the prices of four products including iron fines, cold-rolled sheets, and high-carbon ferrochrome increased, with iron fines having the highest increase at 20.7%, while prices of the other ten products declined.

Prices of molybdenum products on November 14, 2023

Chinese molybdenum prices image

Picture of MoSi2 heating element


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