Molybdenum Market Update - March 12, 2025

Molybdenum market update on March 12, 2025

The overall situation of the domestic molybdenum market remains weak, with a buyer's market holding a significant advantage amid the interplay of bullish and bearish factors. This is primarily reflected in the continuous decline in prices of most products and a strong willingness among suppliers to sell at reduced prices.

Today, the prices of molybdenum concentrate, molybdenum oxide, and molybdenum scrap have dropped to approximately 3,400 yuan/ton-degree, 3,500 yuan/ton-degree, and 383 yuan/kg, respectively.

From a bullish perspective, there are two key factors. First, the enthusiasm of downstream users for inquiries and procurement remains decent. Recently, steel companies such as Shandong Steel Laiwu, Fengbao Special Steel, Qingshan Group, Zhejiang Dongte, and Baowu Egang have entered the market to tender for molybdenum iron. As of now, the total volume of molybdenum iron tendered this month has exceeded 7,000 tons. Second, the downstream industries of molybdenum, such as military and new energy sectors, have promising development prospects, which are expected to drive an increase in demand for molybdenum raw materials in the future.

From a bearish perspective, three factors stand out. First, the steel market is lackluster, with steel prices struggling to rise, leading to low willingness among steel companies to accept high-priced molybdenum iron. Second, the recent continuous decline in international molybdenum oxide and European molybdenum iron prices is unfavorable to a recovery in the domestic molybdenum market. Third, the production capacity of molybdenum manufacturers has been released at an accelerated pace recently, resulting in a relatively abundant supply of spot goods in the market.

According to customs data, from January to February 2025, China’s cumulative steel imports totaled 1.05 million tons, a decrease of 81,000 tons year-on-year, down 7.2%, with an average price of 1,637.5 USD/ton, a month-on-month decrease of 13.2 USD/ton, or 0.8%. During the same period, China’s cumulative steel exports reached 16.972 million tons, an increase of 1.06 million tons year-on-year, up 6.7%, with an average price of 713.4 USD/ton, a year-on-year decrease of 78.0 USD/ton, or 9.9%.

Price of molybdenum products on March 12, 2025

Molybdenum electrode picture

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