Molybdenum News Center

Chinese Molybdenum Price - January 10, 2024

The overall Chinese molybdenum price has seen further increases, primarily reflected in the continuously rising prices of molybdenum concentrates and the active procurement inquiries from downstream users.

However, this also implies greater risks in the future, so investors should closely monitor market changes and exercise caution in their operations.

In the molybdenum concentrate market, there is an overall strong reluctance to sell, mainly due to limited capacity release from molybdenum mines, increased procurement inquiries from downstream users, and a slight international molybdenum price increase. On January 9th, the selling price of 50% molybdenum concentrate in a mine in Henan had risen to 3,360 yuan per ton-degree.

In the molybdenum-iron market, there is significant overall pressure. Although many steel companies are willing to participate in bidding for molybdenum-iron, and the bidding prices are acceptable, the rapid increase in the selling price of molybdenum concentrates poses a certain risk of cost inversion for intermediate smelting enterprises. The current price of molybdenum-iron is around 2,220,000 yuan per ton.

In the molybdenum chemical and its products market, there is a strong atmosphere of observation. End customers primarily engage in on-demand purchasing, and supplier quotations have been adjusted upward with the rise in molybdenum raw material prices.

In terms of news, according to monitoring data on steel prices in Jiangxi Steel Market and Fuzhou Trade Plaza Steel Market, in 2023, among the 44 steel products monitored in Jiangxi Province, prices of 39 decreased and 5 increased. The average sales prices for high-strength deformed bars (HPB300) with diameters of 6.5mm and 8mm were 4,264.14 yuan/ton and 4,290.97 yuan/ton, respectively, showing year-on-year decreases of 2.00% and 4.25%. The average sales price of threaded steel (φ12mm HRB400E) was 4,049.67 yuan/ton, slightly down by 1.17% year-on-year.

Prices of molybdenum products on January 10, 2024

Picture of molybdenum rhenium block

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