Molybdenum Product Prices - December 25, 2024

Details: Category: Tungsten's News; Published on Wednesday, 25 December 2024 17:45

The domestic molybdenum market remains generally stable, with intense price negotiations between buyers and sellers due to a mix of bullish and bearish factors. This has resulted in minimal price fluctuations and slow order growth. Currently, market participants are focusing on downstream demand and the export activities of molybdenum mining companies.

Supply Side

On the supply side, factors such as declining temperatures, intensified environmental crackdowns, and limited short-term molybdenum price increases have slowed production capacity among some molybdenum manufacturers.

Demand Side

As New Year’s and Spring Festival holidays approach, coupled with relatively low current molybdenum product prices, downstream users, such as steel companies, have shown moderate purchasing enthusiasm. As of now, the total amount of steel mill tenders for molybdenum ferroalloy this month is approximately 10,000 tons. However, due to the Christmas holiday, many overseas downstream production enterprises have slowed their consumption pace, affecting China’s molybdenum product export volume.

Industry News

According to data from the World Steel Association, global crude steel production in November 2024 for the 71 countries/regions included in the association’s statistics reached 146.8 million tons, a year-on-year increase of 0.8%.

By Region:

Africa: Crude steel production was 1.8 million tons, down 5.0% year-on-year.

Asia and Oceania: Production reached 107.4 million tons, up 2.0%.

European Union (27 countries): Production was 10.7 million tons, up 3.9%.

Other European countries: Production was 3.4 million tons, down 5.5%.

Middle East: Production was 5.1 million tons, up 2.7%.

North America: Production was 8.5 million tons, down 5.2%.

Russia, other CIS countries, and Ukraine: Production was 6.5 million tons, down 7.8%.

South America: Production was 3.4 million tons, down 3.4%.

Prices of molybdenum products on December 25, 2024

molybdenum product prices image