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Molybdenum Market - June 24, 2026

Molybdenum market update on June 24, 2026

The overall domestic molybdenum market maintains a high but weakening operation. Affected by weak downstream buying and strong price suppression sentiment, mainstream product prices did not continue the obvious upward trend of last week, but with strong cost support and limited spot market supply, prices have no deep decline for the time being.

From the supply side: first, energy prices remain relatively high and production difficulty coefficients have increased, causing some molybdenum manufacturers to slow down their capacity release, resulting in limited incremental spot market supply; second, China's import volume of molybdenum products is relatively small, supporting suppliers' firm quotations. In May 2026, China's import volume of molybdenum products was 9,820.80 tons, decreased by 16.08% month-on-month, increased by 97.96% year-on-year.

From the demand side: first, currently in the traditional consumption off-season, molybdenum product prices remain high compared to earlier periods, resulting in limited profit margins for downstream steel mills and low willingness to enter the market for procurement; second, although the "molybdenum replacing tungsten" technology has good prospects, the overall consumption proportion in this field is relatively low, making it difficult to significantly increase market demand.

In terms of news: data from the National Bureau of Statistics shows that in May, the added value of equipment manufacturing above designated size increased by 9.5% year-on-year, with the growth rate accelerating by 1.2 percentage points from the previous month. Among them, the electronics industry grew by 17.0%, the highest growth rate in nearly five years, contributing 39.2% to the growth of all industrial enterprises above designated size; the instrument and meter, special equipment, automobile, railway, shipbuilding, aerospace and other transportation equipment, and general equipment industries grew by 10.3%, 9.1%, 8.3%, 7.4%, and 6.7% respectively, maintaining relatively high growth rates. Medium and high-end equipment products developed steadily, with the output of steam turbines for power stations, civilian steel ships, medical instruments and equipment, etc., increasing by 70.7%, 70.6%, and 20.5%, respectively.

Price of molybdenum products on June 24, 2026

Image of molybdenum sheet

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