Market Supply and Demand Remain Stable, Molybdenum Price Change Uncertain [SMM Molybdenum Daily Review]

Published: Dec 27, 2024 14:30

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[SMM Molybdenum Daily Review: Stable Market Supply and Demand, Unclear Molybdenum Price Changes] After some molybdenum mines released molybdenum raw materials at flat prices earlier this week, producers followed up with a wave of restocking as needed, leading to an increase in the circulation of molybdenum concentrate in the market. The stable tone of molybdenum concentrate prices continued to strengthen. Meanwhile, steel mills are still actively following up on bidding and procurement of ferromolybdenum, but breaking through the price threshold of 230,000 yuan/mt faces significant resistance. It is expected that in the short term, molybdenum prices will continue to consolidate amid market negotiations.

SMM, December 27:

Today, cautious sentiment dominated the molybdenum market. Producers focused more on demand-based procurement, and the activity level of concentrated restocking operations did not significantly increase. Meanwhile, steel mills continued their bidding activities. Overall, market dynamics remained relatively stable, with buyers and sellers maintaining a wait-and-see attitude toward future developments.

【Quotation Overview】

45% Molybdenum Concentrate: 3,590-3,620 yuan/mtu

50% Molybdenum Concentrate: 3,620-3,650 yuan/mtu

60% Ferromolybdenum: 232,000-235,000 yuan/mt

316L/2B Coil (Wuxi): 23,600-23,800 yuan/mt

Grade 1 Ammonium Tetramolybdate: 220,000-223,000 yuan/mt

Grade 1 Molybdenum Powder: 415-423 yuan/kg

【Market Dynamics】

Following the release of molybdenum raw materials at flat prices by some molybdenum mines earlier this week, producers followed up with demand-based restocking, leading to an increase in the circulation of molybdenum concentrate in the market. The stable pricing trend for molybdenum concentrate continued to strengthen.

Meanwhile, steel mills were still actively pursuing bidding and procurement of ferromolybdenum. However, breaking through the price threshold of 230,000 yuan/mt faced significant resistance. It is expected that molybdenum prices will continue to consolidate in the short term amid market negotiations.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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