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Molybdenum Market - June 6, 2025

Molybdenum market update on June 6, 2025

This week, the domestic molybdenum market displayed a positive and upward trend, primarily reflected in the strong reluctance of raw material suppliers to sell amid bullish sentiment, favorable steel tender prices, and stable downstream demand.

Molybdenum concentrate price increased by approximately 60 yuan/ton-unit, a rise of 1.58%; ferromolybdenum price increased by approximately 2,000 yuan/ton, a rise of 0.81%; and molybdenum oxide price increased by approximately 60 yuan/ton-unit, a rise of 1.54%. Prices for sodium molybdate, ammonium heptamolybdate, and molybdenum powder showed no significant changes.

On the supply side, influenced by a slower growth rate in China's molybdenum supply from January to April this year compared to previous years, combined with substantial steel tender volumes, the spot market for molybdenum concentrate is currently experiencing relatively tight supply. Additionally, according to Zhongyou Securities Research Institute, a mine in Henan is scheduled for equipment upgrades in July, and another mine in Northeast China plans a maintenance shutdown from early June for 7-10 days, which will make it difficult to increase molybdenum concentrate supply in the short term.

On the demand side, driven by the robust development of industries such as steel, chemicals, aerospace, wind power, and automotive manufacturing, downstream demand for molybdenum products remains strong. From January to May, the total volume of ferromolybdenum in steel tenders exceeded 63,000 tons, an increase of 3,200 tons compared to 59,800 tons in the same period last year, a rise of 1.54%.

According to the China Iron and Steel Association, in late May 2025, key monitored steel enterprises produced a total of 23 million tons of crude steel, with an average daily output of 2.091 million tons, a decrease of 4.9% month-on-month; pig iron production was 21.04 million tons, with an average daily output of 1.913 million tons, a decrease of 3.5% month-on-month; and steel product output was 23.94 million tons, with an average daily output of 2.177 million tons, an increase of 2.5% month-on-month. Based on these figures, the estimated national daily output for this period was 2.65 million tons of crude steel, a decrease of 4.9% month-on-month; 2.31 million tons of pig iron, a decrease of 3.5% month-on-month; and 4.09 million tons of steel products, a decrease of 1.6% month-on-month.

Price of molybdenum products on June 6, 2025

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