Molybdenum News Center

Chinese Molybdenum Prices - November 20, 2024

Chinese molybdenum prices remain relatively stable, with molybdenum concentrate, ferromolybdenum, and molybdenum powder prices consolidating at around 3,720 yuan/ton unit, 241,000 yuan/ton, and 435 yuan/kg, respectively. Amid this situation, market participants are focused on when the current stalemate may break, as order growth remains slow.

Supply Side Analysis

The availability of spot supply remains adequate due to factors such as steady production by molybdenum manufacturers, limited downstream user demand, and significant imports of Chinese molybdenum products.

China's Molybdenum Product Imports (Q1–Q3 2024): Totaled 54,438.56 tons, a year-on-year increase of 26.07%. September Imports: 10,455.39 tons, up 73.69% month-on-month and 14.40% year-on-year.

Demand Side Analysis

Weaker steel market performance and a slight decline in international molybdenum prices have led to reduced enthusiasm among steelmakers for ferromolybdenum procurement, coupled with lower bid prices. However, the development of downstream molybdenum industries and the appreciation of the US dollar against the Chinese yuan have supported molybdenum product exports.

China's Molybdenum Product Exports (Q1–Q3 2024): Totaled 30,649.77 tons, up 5.77% year-on-year. Q3 Exports: 10,657.46 tons, an increase of 1.06% quarter-on-quarter and 12.63% year-on-year.

Additional Insights

According to data from the National Bureau of Statistics, in October 2024, 35 out of 41 major industries reported year-on-year growth in value-added output. Key highlights include: Chemical Raw Materials and Products Manufacturing: +6.9%; Ferrous Metal Smelting and Rolling Processing: +4.0%; Non-Ferrous Metal Smelting and Rolling Processing: +7.7%; General Equipment Manufacturing: +2.4%; Specialized Equipment Manufacturing: +3.0%; Automotive Manufacturing: +6.2%; Railway, Shipbuilding, Aerospace, and Other Transport Equipment Manufacturing: +4.4%; Electrical Machinery and Equipment Manufacturing: +5.1%.

The molybdenum market remains in a balanced yet cautious state, influenced by steady supply and mixed demand trends across domestic and international sectors.

Prices of molybdenum products on November 20, 2024

Picture of molybdenum bar 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >