Molybdenum Market Overview on December 18, 2024

The domestic molybdenum market remains stable, with increased enthusiasm among traders compared to last week, leading to a faster growth in orders. As of now, the total amount of molybdenum iron for steel procurement in December is approximately 8,200 tons.

Positive Factors:

The support from strong production costs and increasing production difficulties has led to a widespread willingness among molybdenum mining companies to maintain prices.

Recently, the decline in product prices and the approach of year-end have slightly increased downstream users' enthusiasm for procurement inquiries. Steel companies such as Nanjing Steel, China First Heavy Industries, Hebei Steel Handan, Hunan Xianggang, and Zhongyuan Special Steel are among those bidding for molybdenum iron.

Negative Factors:

Steel companies’ pressure to lower prices remains strong, and the international molybdenum market is showing weak trends, leading to a general lack of confidence in the market outlook.

Market Data: According to data from the China Iron and Steel Association (CISA), in early December 2024, key steel enterprises produced 19.28 million tons of steel, with an average daily production of 1.928 million tons, a 10.9% decrease compared to the previous period. The daily steel production in major regions decreased as follows:

Northeast region: down by 45,000 tons

North China region: down by 59,000 tons

East China region: down by 81,000 tons

Northwest region: down by 4,000 tons

Southwest region: down by 1,000 tons

Central South region: down by 45,000 tons.

Prices of molybdenum products on December 18, 2024

Picture of molybdenum bar 

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