Molybdenum Market Update - May 21, 2025

Molybdenum market update on May 21, 2025

The domestic molybdenum market shows a stable yet slightly bullish trend, characterized by a modest rise in molybdenum product prices, decent enthusiasm from traders entering the market, and relatively substantial transaction volumes.

Recently, prices for molybdenum concentrate, ferromolybdenum, and molybdenum powder have increased to approximately 3,570 yuan/ton-degree, 232,000 yuan/ton, and 425 yuan/kg, respectively.

Bullish Factors:

With steady downstream demand and limited raw material spot inventory, molybdenum mining companies generally adopt a cautious, price-bullish stance. Supported by production costs, prices of molybdates and other molybdenum products have also increased. Steel companies such as Shanxi Taigang, Hebei Puyang, Shandong Laiwu, and Jiangsu POSCO have successively initiated ferromolybdenum tenders, further boosting the confidence of holders to maintain firm prices.

Bearish Factors:

High current molybdenum product prices, coupled with a complex global economic environment, have led to cautious consumption among downstream users. The international molybdenum market remains lackluster, failing to provide significant support to the domestic market.

According to the National Bureau of Statistics, in April 2025, China's crude steel output was 86.02 million tons, unchanged year-on-year; pig iron output was 72.58 million tons, increased by 0.7% year-on-year; steel product output was 125.09 million tons, increased by 6.6% year-on-year; and coke output was 41.60 million tons, increased by 7.1% year-on-year. From January to April 2025, crude steel output totaled 345.35 million tons, increased by 0.4% year-on-year; pig iron output was 288.85 million tons, increased by 0.8% year-on-year; steel product output was 480.21 million tons, increased by 6.0% year-on-year; and coke output was 164.43 million tons, increased by 3.2% year-on-year.

Price of molybdenum products on May 21, 2025

Molybdenum copper alloy picture

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