Molybdenum market update on February 24, 2025
At the beginning of the week, the domestic molybdenum market as a whole maintained a sideways trend. Under the influence of the slight increase in international molybdenum prices and the unrelieved price-cutting sentiment of steel companies, upstream and downstream companies in the industrial chain basically maintained rigid transactions, so that product prices did not fluctuate significantly and the order growth rate was slow. Today, the prices of molybdenum concentrate, ferromolybdenum and molybdenum oxide are temporarily stable at around 3,560 yuan/ton, 229,000 yuan/ton and 3,660 yuan/ton, respectively. According to China Tungsten Online, the main reason for the recent increase in international molybdenum prices is the stable market demand and the implementation of China's molybdenum export control; and the main reason for the low willingness of steel companies to accept high-priced sources is the current low steel prices and tight funds.
Data from the United States Geological Bureau show that in 2024, the United States is expected to produce 33,000 tons of molybdenum concentrate, a year-on-year decrease of 2.94%; it is expected to import 16,000 tons of molybdenum ore and its concentrates, a year-on-year decrease of 1.23%; it is expected to import 13,000 tons of molybdenum primary products, a year-on-year decrease of 3.70%; it is expected to export 45,000 tons of molybdenum ore and its concentrates, a year-on-year decrease of 8.16%; it is expected to export 5,500 tons of molybdenum primary products, a year-on-year decrease of 30.02%.
Prices of molybdenum products on February 24, 2025
Silicon molybdenum rod picture
