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Molybdenum Market Update - March 4, 2025

Molybdenum market update on March 4, 2025

The domestic molybdenum market is in a mediocre situation.

With the intertwined influence of positive and negative factors, traders basically maintain rigid transactions, resulting in a relatively dull trading atmosphere in the market, limited actual trading volume, and a slight lack of confidence among industry players in the future market.

From the perspective of positive factors, firstly, steel enterprises still have a moderate enthusiasm for entering the market to bid for ferromolybdenum. According to information from China Tungsten Online, Shagang Group plans to bid for 90 tons of ferromolybdenum on March 5th, and Huaigang Special Steel plans to bid for 150 tons of ferromolybdenum in the first ten days of March. Secondly, the international molybdenum price remains at a relatively high level, and the purchasing power of the RMB is relatively low (the exchange rate of the US dollar to the RMB is approximately 7.29 at 9 o'clock today), which is not conducive to an increase in the import volume of molybdenum products in China.

From the perspective of negative factors, firstly, steel enterprises have continuously pressed down the procurement price of ferromolybdenum, leading to a decline in the confidence of many molybdenum product suppliers to stabilize prices. Secondly, since the end of the Spring Festival, molybdenum mining and production have been relatively stable. Without a significant increase in downstream demand, the spot supply in the market is relatively sufficient, making it difficult for product prices to rise.

Data from the China Iron and Steel Association shows that in January 2025, the overall output of strip and plate products of key statistical enterprises remained stable. Among them, the output of medium and heavy plate rolling mills was 6.04 million tons, an increase of 1.4% year-on-year; the output of hot continuous rolling mills was 15.87 million tons, an increase of 0.7% year-on-year; and the output of cold continuous rolling mills was 6.71 million tons, a decrease of 2.4% year-on-year. In January, the daily output of medium and heavy plate rolling mills was 195,000 tons, an increase of 3.6% month-on-month; the daily output of hot continuous rolling mills was 512,000 tons, a decrease of 3.3% month-on-month; and the daily output of cold continuous rolling mills was 217,000 tons, a decrease of 3.8% month-on-month.

Price of molybdenum products on March 4, 2025

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