Molybdenum News Center

Molybdenum Powder Price - November 27, 2023

At the beginning of the week, Chinese molybdenum market operated stably. With downstream users maintaining basic demand procurement and limited support from favorable factors, most suppliers kept their prices stable and awaited guidance from a new round of steel bidding. 

Currently, the prices of molybdenum concentrate, ferro molybdenum, and molybdenum powder are approximately CNY 28,700/ton Mo, CNY 192,000/ton, and CNY 390/kg, respectively. It is worth noting that although the current selling price of molybdenum concentrate is at a relatively low level, intermediate smelting enterprises still face significant cost pressure due to the strong pricing pressure from steel mills, with offers generally below CNY 190,000/ton. In this situation, industry participants expect molybdenum prices to maintain narrow and fluctuating operations in the short term.

In terms of news, data from the China Iron and Steel Association (CISA) shows that in mid-November 2023, key statistics for iron and steel enterprises produced a crude steel output of 19.69 million tons, pig iron output of 18.55 million tons, and steel output of 19.90 million tons. Among them, the daily production of crude steel was 1.9691 million tons, a slight decrease of 0.08% compared to the previous month and a 1.64% decrease year-on-year on a comparable basis. Daily pig iron production was 1.8554 million tons, a 0.34% decrease compared to the previous month and a 2.32% increase year-on-year on a comparable basis. Daily steel production was 1.9896 million tons, a 1.86% increase compared to the previous month and a 1% increase year-on-year on a comparable basis.

Prices of molybdenum products on November 27, 2023

Picture of molybdenum bar 

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