International Molybdenum Oxide Prices

International Molybdenum Oxide Prices - January 20, 2025

Details: Category: Tungsten's News; Published on Monday, 20 January 2025 16:05

At the beginning of the week, the domestic molybdenum market remained stable, with prices holding steady. As the Lunar New Year approaches, traders have become less active in market operations, adopting a cautious wait-and-see attitude. This has resulted in little change in product prices and slow order growth.

According to information from Chinatungsten Online, several factors have contributed to the subdued molybdenum market: downstream users have mostly completed their procurement plans, logistics are slowing down, some molybdenum manufacturers have reduced or suspended production for the holiday, and international molybdenum prices have seen a slight decline. Recent steel tender prices are generally around RMB 230,000/ton, while international molybdenum oxide prices are below $21/lb Mo.

Market News:

The latest data from the National Bureau of Statistics shows that in 2024:

Crude steel output was 1,005.09 million tons, a year-on-year decrease of 1.7%.

Pig iron output was 851.74 million tons, down 2.3% year-on-year.

Steel output was 1,399.67 million tons, a year-on-year increase of 1.1%.

By region, the top five provinces for crude steel production in the first 11 months of 2024 were:

Hebei Province: 186.959 million tons

Jiangsu Province: 110.182 million tons

Shandong Province: 67.563 million tons

Liaoning Province: 64.639 million tons

Shanxi Province: 56.243 million tons

Prices of molybdenum products on January 20, 2024