Molybdenum Market Update - February 27, 2025

Molybdenum market update on February 27, 2025

Domestic molybdenum prices generally show a pattern of being hard to rise or fall. Under the influence of many uncertain factors, traders basically maintain rigid transactions, resulting in low market activity and a small number of new orders. At present, industry insiders focus on the dynamics of the international molybdenum market and the volume and price performance of steel bidding.

According to China Tungsten Online, the overall international molybdenum price has experienced a rise-and-fall trend recently, mainly due to the reduced willingness of buyers to accept high-priced sources and the poor performance of China's molybdenum market. At present, the international price of molybdenum oxide is about US$21/pound of molybdenum, and the European ferromolybdenum price is about US$51/kilogram of molybdenum. In terms of steel bidding, although ferromolybdenum suppliers are reluctant to make price concessions, affected by the rapid development of industries such as machinery manufacturing, energy, transportation and construction, steel companies are still bidding for ferromolybdenum one after another. So far, the total amount of ferromolybdenum in steel bidding this month is about 12,000 tons. It is worth mentioning that at present, the price of steel bidding is generally below 229,000 yuan/ton.

According to data from the China Iron and Steel Association, in mid-February 2025, key steel enterprises produced a total of 21.51 million tons of crude steel, with an average daily output of 2.151 million tons, a month-on-month increase of 0.8%; 19.08 million tons of pig iron, with an average daily output of 1.908 million tons, a month-on-month decrease of 2.7%; 20.37 million tons of steel, with an average daily output of 2.037 million tons, a month-on-month increase of 4.2%. In terms of regions, the daily output of crude steel in North China increased by 1,000 tons, the daily output of crude steel in East China increased by 17,000 tons, the daily output of crude steel in Northwest China increased by 2,000 tons, the daily output of crude steel in Southwest China increased by 3,000 tons, the daily output of crude steel in Northeast China decreased by 2,000 tons, and the daily output of crude steel in Central and South China decreased by 4,000 tons.

Prices of molybdenum products on February 27, 2025

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