Chinese Molybdenum Market Update for December 11, 2024

The domestic Chinese molybdenum market continues to operate in a weakly stable state. With supply and demand relatively balanced, buyers and sellers exhibit low consistency in negotiations, leading to a strong wait-and-see atmosphere and limited room for price adjustments.

From the supply side:

Factors such as poor recent market performance, high production costs, stricter environmental policies, and declining temperatures have led many molybdenum manufacturers to reduce output.

Limited purchasing power of the RMB and heightened geopolitical risks have constrained China’s imports of molybdenum products.

From the demand side:

Weak trends in the steel market have resulted in low bidding prices for ferromolybdenum by steel companies, which in turn limits price increases for other molybdenum products. Recent steel tender prices have been below 230,000 RMB/ton.

As the year-end approaches, traders are focused on recovering funds, leading to heightened caution in consumption.

According to data from China Tungsten Online, since late November:

Molybdenum concentrate prices have dropped by approximately 4.03%.

Ferromolybdenum prices have declined by about 3.73%.

Molybdenum oxide prices have decreased by around 3.93%.

Sodium molybdate prices are down roughly 2.96%.

Ammonium tetramolybdate prices have fallen by approximately 2.61%.

Ammonium heptamolybdate prices are down by about 2.56%.

Molybdenum powder prices have dropped by roughly 2.30%.

Molybdenum bar prices have declined by about 1.08%.

Additional Information:

Customs data shows that in November 2024, China imported 473,000 tons of steel, a month-on-month decrease of 63,000 tons (-11.8%). Steel exports reached 9.278 million tons, down 1.904 million tons (-17.0%) month-on-month. From January to November 2024, China imported a total of 6.194 million tons of steel, a year-on-year decrease of 786,000 tons (-11.3%), while steel exports totaled 101.152 million tons, up 18.615 million tons (+22.6%) year-on-year.

Prices of molybdenum products on December 11, 2024

Picture of molybdenum bar 

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