Molybdenum News Center

Sodium Molybdate Price - February 28, 2024

Chinese molybdenum market is overall maintaining a stable trend, with weak supply and demand dynamics leading to a subdued trading atmosphere and a reduction in new orders. 

Currently, the prices of molybdenum concentrate, sodium molybdate, and molybdenum bars are approximately RMB 3,390 per mtu, RMB 162,000 per ton, and RMB 465 per kilogram, respectively.

In the molybdenum concentrate market, the situation remains relatively stable. Although downstream demand has decreased, the limited spot market supply and the relatively good performance of the international molybdenum market have led to lower willingness among suppliers to offer discounts. In the molybdenum iron market, due to difficulties in obtaining low-priced sources and the reduced speed of steel company tenders, along with increasing price pressure, smelters are facing significant risks of inverted pricing. In the molybdenum chemical and its products market, there is an overall atmosphere of observation, with traders maintaining basic demand-based transactions, thus stabilizing product prices.

In terms of news: According to data from the China Iron and Steel Industry Association, in mid-February 2024, key steel companies produced 21.0091 million tons of crude steel, 19.0493 million tons of pig iron, and 19.8504 million tons of steel. Among them, daily crude steel production was 2.1009 million tons, an increase of 1.50% compared to the previous month, and an increase of 0.39% compared to the same period last year using the same caliber; daily pig iron production was 1.9049 million tons, an increase of 2.91% compared to the previous month, and an increase of 0.44% compared to the same period last year using the same caliber; daily steel production was 1.985 million tons, an increase of 3.78% compared to the previous month, and a decrease of 3.36% compared to the same period last year using the same caliber.

Prices of molybdenum products on February 28, 2024

Picture of MoSi2 heating elements

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >