Molybdenum News Center

Molybdenum Prices – May 20, 2024

At the beginning of the week, the overall Chinese molybdenum market maintained a consolidation pattern, mainly due to the strong reluctance of suppliers to sell and the basic maintenance of just-in-time purchases by downstream users. 

According to Chinatungsten Online, although the purchasing sentiment is affected by the current high molybdenum prices and buyers are generally keen to negotiate lower prices, most molybdenum mining enterprises have maintained relatively firm pricing due to factors such as limited spot supply in the market, the difficulty of increasing future molybdenum raw material supply, strong support from production costs, rebounding overseas molybdenum prices, and another surge in gold and silver prices. Today, the prices of molybdenum concentrate, molybdenum iron, and molybdenum powder are stable at around 3,670 yuan/ton, 241,000 yuan/ton, and 453 yuan/kg, respectively.

In terms of news: According to data from the National Bureau of Statistics, in April 2024, China's crude steel production was 85.94 million tons, a year-on-year decrease of 7.2%; pig iron production was 71.63 million tons, a year-on-year decrease of 8.0%; and steel production was 116.52 million tons, a year-on-year decrease of 1.6%. In April, the average daily production of crude steel, pig iron, and steel in China was 2.865 million tons, 2.388 million tons, and 3.884 million tons, respectively.

Prices of molybdenum products on May 20, 2024

Picture of molybdenum foil 

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