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Molybdenum Market Update - March 26, 2025

Molybdenum market update on March 26, 2025

The domestic molybdenum market is showing an overall trend of stabilizing and rebounding, with the price of molybdenum concentrate rising by approximately 50 yuan per ton-degree.

Driven by the significant increase in molybdenum raw material prices, the prices of ferromolybdenum, molybdate, and molybdenum products have also seen varying degrees of upward movement. However, under the interplay of bullish and bearish factors, industry participants hold slightly differing views on the market outlook, with some believing that this rebound is merely a short-term phenomenon.

On the bullish side, firstly, given the relatively high production costs and the current low price levels of molybdenum products, suppliers are generally reluctant to sell and are keen to support prices to maintain profitability. Secondly, steel companies have successively entered the market to tender for ferromolybdenum, with tender prices rising, significantly boosting confidence in the molybdenum market. Thirdly, international molybdenum prices have been rising amid fluctuations, with the international molybdenum oxide price increasing to about 20.2 USD per pound of molybdenum today, providing strong support to the domestic molybdenum market and driving up market enthusiasm.

On the bearish side, amid complex and volatile global economic conditions, consumers exhibit a strong tendency to negotiate lower prices during procurement, which to some extent limits the room for price increases. At the same time, after the price recovery, some molybdenum suppliers have shown a heightened willingness to cash in profits, leading to large-scale selling of products. This has increased market supply, further hindering the warming of the molybdenum market.

According to data from the China Iron and Steel Association, in February, the production of flat and strip products by key monitored enterprises remained relatively stable. Among them, medium and heavy plate mills produced 5.98 million tons, up 3.2% year-on-year, with a cumulative output of 12.16 million tons, up 2.9% year-on-year. Hot continuous rolling mills produced 15.31 million tons, up 0.1% year-on-year, with a cumulative output of 31.22 million tons, up 0.5% year-on-year. Cold continuous rolling mills produced 6.50 million tons, down 1.6% year-on-year, with a cumulative output of 13.22 million tons, down 2.0% year-on-year.

Price of molybdenum products on March 26, 2025

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