Molybdenum Market Update - March 20, 2025

Molybdenum market update on March 20, 2025

The domestic molybdenum market has generally maintained a weak but stable operation, primarily reflected in suppliers' lack of confidence in holding prices and a low probability of an optimistic market outlook.

However, there are also positive aspects: downstream inquiries and procurement activities remain highly active, and many suppliers are willing to offer concessions, resulting in a decent level of market trading activity and a considerable number of new orders.

In the molybdenum concentrate market, transaction price has hovered around 3,330 yuan/ton-degree, mainly influenced by strong support from production costs, a rebound in international molybdenum prices after hitting a bottom, and acceptable downstream demand. Suppliers are generally maintaining rational pricing. In the ferromolybdenum market, price competition is intense. Although the selling price of molybdenum concentrate has recently dropped significantly, steel companies continue to exert downward pressure on prices—sometimes even intensifying it—leading to significant cost inversion risks for intermediate smelting enterprises and increasing pressure on their production and operations. In the molybdenum chemicals and products market, a strong wait-and-see atmosphere prevails. Terminal demand remains largely at a rigid level, while the decline in raw material prices is gradually narrowing. As a result, the prices of molybdates and molybdenum products have shown no significant changes for the time being.

According to data from the China Iron and Steel Association, in the first ten days of March, the social inventory of five major steel varieties across 21 cities reached 11.22 million tons, an increase of 190,000 tons month-on-month, up 1.7%, with inventories continuing to rise slightly. Compared to the beginning of the year, it increased by 4.63 million tons, up 70.3%; compared to the same period last year, it decreased by 3 million tons, down 21.1%. During the same period, among the social inventories of the five major steel varieties, hot-rolled coils and medium-thick plates saw slight month-on-month declines, while other varieties experienced varying degrees of increase, with cold-rolled coils showing the largest growth in both volume and percentage. Year-on-year, except for a slight increase in hot-rolled coils, all other varieties declined, with rebar recording the largest reduction in volume and wire rod showing the largest percentage drop.

Price of molybdenum products on March 20, 2025

Molybdenum electrode picture

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