Chinese Molybdenum Market - December 2, 2024

At the beginning of the week, the domestic Chinese molybdenum market generally maintained a sideways trend. This was mainly due to the weaker performance of steel tender volumes and prices, as well as the strong reluctance of molybdenum mine companies to sell at lower prices. 

According to information from China Tungsten Online, the total amount of molybdenum iron tendered in November exceeded 110,000 tons, with current steel tender prices around 233,000 CNY per ton. Recently, the following steel companies have participated in molybdenum iron tenders: Hebei Steel Group (60 tons), Shougang Group (30 tons), and Shanghai Baosteel (240 tons). Currently, the prices for molybdenum concentrate, molybdenum iron, and ammonium tetrathiomolybdate are respectively consolidating at 3,690 CNY per ton degree, 238,000 CNY per ton, and 227,000 CNY per ton.

Market News:

According to data from the China Steel Association (CSA), in October 2024, the production of key steel products showed a slight year-on-year decrease. Specifically:

The production of medium and heavy plate by rolling mills was 6.06 million tons, down 1.4% year-on-year.

The production of hot-rolled coils was 15.98 million tons, down 4.6% year-on-year.

The production of cold-rolled coils was 6.84 million tons, down 2.1% year-on-year.

In October, the daily production of medium and heavy plate by rolling mills was 198,000 tons, down 5.5% month-on-month and down 1.4% year-on-year. The daily production of hot-rolled coils was 516,000 tons, up 1.9% month-on-month but down 4.6% year-on-year. The daily production of cold-rolled coils was 221,000 tons, up 3.1% month-on-month but down 2.1% year-on-year.

Prices of molybdenum products on December 2, 2024

Picture of TZM rods 

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