Molybdenum News Center

Chinese Molybdenum Market Trend – November 27, 2024

The Chinese molybdenum market is generally showing a steady but slightly weaker trend. As favorable factors gradually dissipate, the consumer market is slowly shifting from a seller's market to a buyer's market. 

This shift is reflected in the decline in prices across a range of products, including a decrease of approximately ¥10 per ton unit for molybdenum concentrate, a drop of about ¥1,000 per ton for ammonium molybdate, and a reduction of around ¥5 per kilogram for molybdenum powder.

Favorable factors:

The recent price adjustment downward in molybdenum products, coupled with favorable developments in industries such as manufacturing and energy, has led to an increase in bidding activity for molybdenum ferroalloy by steel companies.

Environmental regulations and the continued high production costs have resulted in a slower pace of capacity release by some molybdenum producers.

Negative factors:

The weak steel market and low steel prices have led to steel companies offering lower bids for molybdenum ferroalloy, which in turn affects the overall momentum in the molybdenum market.

The international molybdenum market is underperforming, which has not been able to drive up domestic molybdenum prices.

With supply and demand in relative balance and a calm macroeconomic environment, buyers remain cautious and tend to adopt a wait-and-see approach.

News update:

According to data from the China Iron and Steel Association (CISA), in mid-November, the social inventory of five major steel products in 21 cities reached 6.84 million tons, a 1.3% decrease from the previous month and a 6.2% decrease compared to the beginning of the year. Compared to the same period last year, the inventory decreased by 11.5%.

In South China, inventory decreased by 130,000 tons, a decline of 8.4%.

In North China, inventory increased by 100,000 tons, a rise of 12.8%, the largest increase in both volume and percentage.

In East China, inventory decreased by 20,000 tons, a drop of 1.0%.

In Central China, inventory decreased by 40,000 tons, a decline of 4.7%.

In Southwest China, inventory decreased by 20,000 tons, a decline of 2.0%.

In Northeast China, inventory remained unchanged.

In Northwest China, inventory increased by 20,000 tons, a rise of 4.1%.

Prices of molybdenum products on November 27, 2024

Picture of molybdenum tubes 

Follow our WeChat to know the latest molybdenum price, information and market analysis.

• < Prev
• Next >