Chinese Molybdenum Market - February 5, 2025

On the first day after the Chinese New Year holiday, the Chinese molybdenum market remained relatively calm.

 Besides minor fluctuations in mainstream product prices within a narrow range, traders showed low enthusiasm for market participation, resulting in limited actual transactions. Currently, industry players are mainly focusing on the performance of the new round of steel bidding in terms of volume and pricing. Recently, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide have remained stable at approximately 3,580 RMB/MTu, 232,000 RMB/ton, and 3,680 RMB/MTu, respectively.

In terms of market news, data from the China Iron and Steel Association (CISA) indicates that in mid-January 2025, the steel inventory of key monitored steel enterprises reached 12.93 million tons, an increase of 2.7% compared to the previous period, a 4.5% rise from the beginning of the year, an 11.7% decrease compared to the same period last month, a 15.8% drop from the same period last year, and a 19.5% decline from two years ago.

Regionally, among the six major regions, steel inventories in key enterprises in Northeast China, North China, and East China increased compared to the previous period, while other regions saw declines. Specifically, steel inventories in Northeast China increased by 220,000 tons, North China by 100,000 tons, and East China by 130,000 tons. Meanwhile, inventories in Northwest China and Southwest China decreased by 10,000 tons each, while Central and South China saw a reduction of 90,000 tons.

Prices of molybdenum products on February 5, 2025

Picture of molybdenum copper carriers 

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