SMM Analysis: Rising Long-Term Contracts Push Tungsten Prices; Will Molybdenum Market Demand Sustain Growth?

[SMM Analysis: Long-term Contract Prices Continue to Rise, Is There Still Upside Room for Tungsten Prices?] In the demand market, due to the steady increase in the production schedule of molybdenum-containing steel in recent times, and the unmet procurement demand for ferromolybdenum by most stainless steel mills, there is a possibility of further market entry later this month. End-use consumption demand remains stable, with a good procurement pace and no significant new demand at present.

SMM expects that with the continuous increase in demand from steel mills, the consumption of the molybdenum market will further rise. However, due to the pressure of demand on prices, there may be a slight correction in molybdenum prices this week.