Silicon social inventories rose by 1,000 mt on week to 75,000 mt

SMM News, September 16: According to market sources tracked by SMM, a major smelter in East China plans to launch a public tender sale of several tonnes of crude cadmium tomorrow. Market participants stated that given the current firming trend in cadmium prices, competition for this crude cadmium tender is expected to be fairly intense.

SMM News, September 16: According to market sources tracked by SMM, a major smelter in Hunan recently completed a public tender sale of several tonnes of refined cadmium, with the transaction successfully closed. Market hearsay puts the final deal price of refined cadmium at approximately RMB 27,800 per tonne. Market participants commented that cadmium prices are showing a firming trend at present, and buying interest from end users is gradually picking up. The successful conclusion of this tender is, to a certain extent, an indication of sound market demand.

SMM learned that overseas mine production cuts, extreme weather in South America, and declining ore grades and recovery rates were intensively discussed during a recent industry association meeting. These concerns strengthened expectations of tighter overseas molybdenum supply, stimulated some buying and pushed molybdenum oxide prices to around $34/lb Mo. Supply-side expectations continue to support prices, while some mine production, grade and recovery issues may not improve materially until around 2028. China’s market also remains firm, but elevated prices are discouraging chasing. Well-funded buyers, low-inventory users and producers with firm orders continue to purchase as needed, while processors mainly restock to maintain production.