Molybdenum News Center

Chinese Molybdenum Market - October 8, 2024

The domestic Chinese molybdenum market remains stable and firm on the first day after the National Day holiday. Although some traders have yet to resume normal trading activities, leading to moderate market activity, many participants are optimistic about the future market. 

Currently, prices for molybdenum concentrate, ferromolybdenum, and molybdenum powder are consolidating around 3,700 RMB/tonne unit, 239,000 RMB/tonne, and 435 RMB/kg, respectively. Notably, before the holiday, downstream demand was strong, but due to lower consumer bids and high production costs, suppliers were less willing to sell.

According to data from the China Iron and Steel Association (CISA), in August 2024, China exported 9.495 million tonnes of steel, an increase of 21.3% month-on-month and 14.6% year-on-year. The average export price was $755.5/tonne, down 4.4% month-on-month and 7.3% year-on-year. During the same period, China imported 509,000 tonnes of steel, a month-on-month increase of 0.8% but a year-on-year decline of 20.5%. The average import price was $1,739.7/tonne, down 1.4% month-on-month and up 4.2% year-on-year.

Prices of molybdenum products on October 8, 2024

Picture of TZM sheets

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