Molybdenum Products Prices - December 16, 2024

At the start of the week, the domestic Chinese molybdenum market maintained overall stability. 

Although low bid prices for ferromolybdenum from steel companies made it difficult for most molybdenum products to see price increases, factors such as increased inquiries from downstream users and a strong willingness among molybdenum miners to hold back sales and support prices limited the likelihood of significant price drops. As a result, market participants largely adopted a wait-and-see approach, and actual transaction volumes remained limited.

Current Prices:

Molybdenum concentrate: RMB 3,570/metric ton unit; Ferromolybdenum: RMB 232,000/metric ton; Molybdenum powder: RMB 425/kg.

Market News:

According to the China Iron and Steel Association (CISA), as of early December 2024, social inventories of five major steel products across 21 cities stood at 6.85 million tons, an increase of 20,000 tons or 0.3% compared to the previous reporting period. Compared to the beginning of the year, inventories decreased by 440,000 tons, a decline of 6.0% year-on-year, inventories fell by 520,000 tons, a decline of 7.1%.

Regional Breakdown:

East China: Decreased by 40,000 tons (-2.1%), the largest reduction in both volume and percentage.

South China & Southwest: No change.

North China: Increased by 20,000 tons (+2.1%).

Northwest: Increased by 20,000 tons (+3.6%).

Northeast: Increased by 10,000 tons (+3.8%).

Prices of molybdenum products on December 16, 2024

Picture of molybdenum rods 

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