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Analysis of the Molybdenum Price Trend in China in December 2023

I. Analysis of the Molybdenum Price Trend in China in December 2023

According to the information obtained from Chinatungsten Online, the price trend of molybdenum products in China in December 2023 is similar to that of November, with fluctuations characterized by initial increases, followed by decreases, and subsequent rebounds. However, the magnitudes of the declines and increases are not uniform.

At the beginning of the month, molybdenum product prices continued the slight upward trend seen at the end of November, with a well-performing market.

In the middle of the month, influenced by the simultaneous decrease in steel demand and prices and the high-level pullback in international molybdenum prices, molybdenum product prices experienced varying degrees of decline, particularly in molybdenum concentrate, molybdenum iron, and molybdenum oxide.

In the latter part of the month, with the increasing festive atmosphere of Christmas and New Year, coupled with the stimulation of low molybdenum prices at that time, downstream users showed increased enthusiasm for purchasing at lower prices. Additionally, with the bottoming and rebound of international molybdenum prices, supplier quotations increased significantly.

At the end of the month, influenced by the arrival of Christmas, overseas manufacturers generally reduced production, leading to reasonable fluctuations in international molybdenum prices. In this context, the price of molybdenum is primarily influenced by changes in steel demand and prices, with molybdenum prices initially decreasing with steel prices and then rising with them. It's worth noting that the total quantity of molybdenum iron tendered this month exceeded 15,000 tons.

II. Average Prices of Molybdenum Products in December 2023:

Average price of molybdenum concentrate: CNY 3,115 per ton Mo, approximately up by 2.64% compared to the previous month, and down by about 17.90% year-on-year.

Average price of ferro molybdenum: CNY 209,810 per ton, approximately up by 2.87% compared to the previous month, and down by about 18.42% year-on-year.

Average price of molybdenum oxide: CNY 3,207 per ton Mo, approximately up by 2.13% compared to the previous month, and down by about 17.15% year-on-year.

Average price of sodium molybdate: CNY 148,667 per ton, approximately up by 3.86% compared to the previous month, and down by about 12.81% year-on-year.

Average price of ammonium tetramolybdate: CNY 206,714 per ton, approximately up by 1.97% compared to the previous month, and down by about 13.19% year-on-year.

Average price of ammonium heptamolybdate: CNY 210,905 per ton, approximately up by 2.02% compared to the previous month, and down by about 13.14% year-on-year.

Average price of molybdenum powder: CNY 411 per kilogram, approximately up by 1.23% compared to the previous month, and down by about 7.64% year-on-year.

Average price of molybdenum bar: CNY 442 per kilogram, approximately up by 0.91% compared to the previous month, and down by about 4.12% year-on-year.

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