Molybdenum News Center

Chinese Molybdenum Market - September 14, 2024

The domestic Chinese molybdenum market remains stable overall. As the Mid-Autumn Festival approaches, market activity has shifted toward a holiday mode, leading to a decrease in trading enthusiasm and causing product prices to fluctuate within a narrow range, with relatively limited spot trading volume.

In the molybdenum concentrate market, a strong sense of caution prevails, with transaction prices hovering around 3,730 yuan/ton. This is primarily due to weak demand from downstream industries and suppliers' reluctance to sell at lower prices.

In the ferromolybdenum market, the overall situation is under pressure. Despite a reasonable number of steel tenders in September, the difficulty in raising tender prices and the scarcity of low-priced goods have created significant cost inversion risks for intermediate smelting companies.

In the molybdenum chemical and products market, trading activity remains low as end customers mainly adopt a demand-based purchasing strategy, and suppliers are not in a rush to sell.

According to data from the China Iron and Steel Association (CISA), in early September 2024, the social inventory of five major steel products in 21 cities was 8.84 million tons, down 5.6% from the previous period. Inventory continues to decline but is up 21.3% from the beginning of the year and down 7.6% from the same period last year. Regionally, inventory in East China decreased by 180,000 tons, a 7.6% drop, making it the largest reduction area. South China decreased by 80,000 tons (3.4%), Central China by 50,000 tons (4.2%), North China by 60,000 tons (5.9%), Southwest China by 50,000 tons (4.1%), Northwest China by 50,000 tons (8.1%), and Northeast China by 50,000 tons (7.9%).Prices of molybdenum products on September 14, 2024

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