Molybdenum News Center

Molybdenum Powder Prices - April 3, 2024

Chinese molybdenum market continues to be under pressure overall, mainly due to strong price pressure from steel companies and limited room for concessions from molybdenum mining enterprises. 

In this situation, market trading volume is generally low. Today, molybdenum concentrate, ferromolybdenum, ammonium molybdate, and molybdenum powder prices have decreased by approximately 20 yuan per ton, 1,000 yuan per ton, 2,000 yuan per ton, and 5 yuan per kilogram, respectively.

According to information obtained by Chinatungsten Online, the main reasons for the continuous decline in bid prices for ferromolybdenum by steel mills in recent times are as follows: First, the slow recovery of the global economy has led to reduced demand in sectors such as manufacturing and real estate, resulting in reduced steel consumption. Second, faced with huge operational pressures due to slow market demand recovery, some steel companies have adopted measures such as production cuts and shutdowns, which are not conducive to an increase in ferromolybdenum prices. Third, there is an oversupply situation in the steel market, so the downward trend in steel prices is difficult to stop, thereby forcing raw material prices to decrease.

In terms of news: According to data from the World Steel Association, in February 2024, the crude steel production of 71 countries included in the World Steel Association's statistics reached 148.8 million tons, an increase of 3.7% year-on-year. Among them, China's crude steel production is estimated at 811.8 million tons, an increase of 3.5% year-on-year; India's crude steel production is 118.0 million tons, an increase of 11.4% year-on-year; Japan's crude steel production is 70.0 million tons, an increase of 1.1% year-on-year; the United States' crude steel production is 65.0 million tons, a decrease of 1.2% year-on-year; and Russia's crude steel production is estimated at 57.0 million tons, a decrease of 4.4% year-on-year.

Prices of molybdenum products on April 3, 2024

Picture of TZM alloy rods 

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