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Molybdenum Market Update - April 8, 2025

Molybdenum market update on April 8, 2025

The domestic molybdenum market in China has generally maintained a weak but stable performance.

Against the backdrop of a relatively balanced supply-demand relationship and the escalation of the China-US trade war, market enthusiasm remains moderate, and product prices have shown no significant changes for the time being.

From the supply side, factors such as increasingly stringent environmental policies, high energy costs, and the difficulty in raising molybdenum product prices have slowed the capacity release pace of many molybdenum manufacturers. In February, China's production of molybdenum concentrate, ammonium molybdate, and molybdenum powder all experienced a certain degree of decline compared to the previous month. On the import front, due to relatively high international molybdenum prices and policy impacts, China's imports of molybdenum products have been relatively limited. In February, China's molybdenum product imports amounted to 6,507.13 tons, a month-on-month decrease of 10.48%.

From the demand side, influenced by the robust development of downstream industries such as new energy, aerospace, and military, steel companies and other downstream users have largely maintained essential procurement levels. In the first quarter of this year, the total steel procurement volume reached approximately 39,000 tons, with about 15,000 tons in March alone.

From a policy perspective, on April 4, 2025, the State Council Tariff Commission announced that, starting from 12:01 on April 10, a 34% tariff would be imposed on all imported goods originating from the United States. According to Chinatungsten Online, the volume of molybdenum products imported from the US to China is limited. Customs data shows that from January to February 2025, China imported 1,103.53 tons of molybdenum products from the US, accounting for 7.01% of the total import volume of 13,775.79 tons. The value of molybdenum products imported from the US was 170 million yuan, representing 8.78% of the total import value of 1.936 billion yuan.

Price of molybdenum products on April 8, 2025

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