Chinese Molybdenum Market - January 17, 2024

Details: Category: Tungsten's News; Published on Friday, 17 January 2025 14:33

The Chinese molybdenum market remains firm overall, with intense price negotiations between buyers and sellers. The contradiction between the difficulty of securing low-cost materials and the stagnant steel bidding prices has led to narrow price fluctuations and slow order growth.

Positive Factors:

As the year-end approaches, downstream users are showing increased enthusiasm for restocking.

Due to colder weather and the upcoming Spring Festival holiday, some manufacturers have reduced production.

Negative Factors:

The steel market's sluggish recovery has led steel enterprises to continue suppressing ferromolybdenum prices, impacting the upward trend of other molybdenum product prices.

The lack of improvement in terminal customer demand for essential purchases remains a challenge.

Market Update:

According to the Jiangxi Provincial Development and Reform Commission, price monitoring of steel markets in Jiangxi and Fuzhou trade centers indicates that the sales prices of all 44 monitored steel products fell year-on-year in 2024. In December, among the 44 steel products monitored, prices rose for 12 products, fell for 26, and remained unchanged for 6 on a month-on-month basis.

In 2024, the average sales prices of high wire rod (6.5 HPB300) and high wire rod (8 HPB300) in Jiangxi were RMB 3,839.50/ton and RMB 3,785.60/ton, down 9.96% and 11.78% year-on-year, respectively. The average sales price of rebar (φ12mm HRB400E) was RMB 3,605.00/ton, down 10.98% year-on-year. In December, the average sales prices of high wire rod (6.5 HPB300) and high wire rod (8 HPB300) were RMB 3,697.50/ton and RMB 3,622.50/ton, down 0.10% month-on-month and 13.91% and 14.66% year-on-year, respectively. The average sales price of rebar (φ12mm HRB400E) was RMB 3,505.00/ton, down 0.53% month-on-month and 14.93% year-on-year.

Prices of molybdenum products on January 17, 2025

Chinese molybdenum price image