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Molybdenum Concentrates Price - December 20, 2023

As of December 20, 2023, the overall focus of the Chinese molybdenum market has noticeably shifted upwards. Influenced by factors such as satisfactory downstream demand and a favorable international molybdenum market, suppliers' willingness to hold off sales and support prices has generally increased. 

In the short term, industry participants are closely monitoring the performance of molybdenum mines' shipments and the dynamics of steel demand and prices. According to information from Chinatungsten Online, molybdenum concentrates have increased by approximately 80 yuan per ton Mo, and ferro molybdenum has increased by approximately 5,000 yuan per ton.

In the molybdenum concentrates market, the supply and demand fundamentals are relatively healthy. With the Christmas and New Year atmosphere gradually intensifying, most molybdenum iron businesses have shown a slightly higher enthusiasm for inquiries and purchases. Additionally, given the observable molybdenum concentrate selling prices, many holding suppliers are more willing to make sales. In the molybdenum iron market, although the performance of the steel market is still subpar, hindering significant adjustments in steel bid prices, to ensure normal production operations, steel bid prices can only be marginally increased in line with molybdenum iron quotation increases. In the molybdenum chemical and its products market, the overall situation is moderate, and driven by the rise in molybdenum raw material prices, the selling prices of molybdenum salts and other molybdenum products have increased.

In terms of news, data from the Ministry of Industry and Information Technology shows that from January to November 2023, China's completed shipbuilding volume was 38.09 million deadweight tons, a year-on-year increase of 12.3%. The newly contracted order volume was 64.85 million deadweight tons, a year-on-year increase of 63.8%. The completed shipbuilding volume, newly contracted order volume, and the volume of orders held, all measured in deadweight tons, accounted for 50.1%, 65.9%, and 53.4% of the global total, respectively. By the end of November, the volume of orders held was 134.09 million deadweight tons, a year-on-year increase of 29.4%.

Prices of molybdenum products on December 20, 2023

Picture of TZM rods 

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