Molybdenum News Center

Molybdenum Powder Price - March 6, 2024

The domestic molybdenum market remains robust overall, with conflicting sentiments between molybdenum mining companies' reluctance to sell and steel companies' strong bargaining intentions, resulting in moderate market trading activity and limited new orders. 

Currently, the prices of molybdenum concentrate, ferro molybdenum, and molybdenum powder are stabilizing around 3,460 yuan per mtu, 226,000 yuan per metric ton, and 437 yuan per kilogram, respectively.

In the molybdenum concentrate market, there is a prevalent atmosphere of cautiousness mainly due to insufficient downstream consumption capacity and low willingness among suppliers to reduce prices. In January this year, molybdenum production decreased in some domestic and foreign regions such as Chile and Peru. In January 2024, domestic molybdenum concentrate production was 10,208 metric tons, a decrease of 2.9% year-on-year and 10.9% month-on-month, with the reduction mainly from a copper mine in Tibet and a molybdenum mine in Inner Mongolia.

In the ferro molybdenum market, overall operations are under pressure as it is difficult to source low-priced goods, and downstream willingness to accept high-priced goods is low, leading to challenges in pricing for intermediate smelting companies. Currently, the prices of threaded steel, hot-rolled coil, and 316/2B stainless steel coil are approximately 3,851 yuan per metric ton, 4,019 yuan per metric ton, and 25,165 yuan per metric ton, respectively.

In the molybdenum chemical and its products market, there is still significant room for growth in transactions, mainly due to the difficulty in improving the situation of terminal customers' just-in-time purchases and the lack of urgency among holders to sell.

In terms of news, according to data from the Metallurgical Industry Research Center, the weighted average purchase cost of domestic iron concentrate (dry basis) in January was 1,002.53 yuan per metric ton, an increase of 51.17 yuan per metric ton compared to the previous month, with an increase of 5.38%, and an increase of 193.38 yuan per metric ton compared to the same period last year, with an increase of 23.90%.

Prices of molybdenum products on March 6, 2024

Picture of molybdenum plates

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