Spot Market Remains Calm, Molybdenum Prices Stay Stable [SMM Molybdenum Daily Review]

Published: Dec 30, 2024 14:44

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[SMM Molybdenum Daily Review: Spot Market Remains Calm, Molybdenum Prices Stay Stable] Amid strong sentiment to stabilize prices from molybdenum mines, sentiment to stand firm on quotes from raw material suppliers due to high-cost inventory, and stable prices with increased procurement of ferromolybdenum by steel mills, molybdenum prices are supported by costs against declines but restrained by downstream resistance against increases. It is expected that before the holiday, molybdenum prices are unlikely to drop, with a slight upward adjustment in quotes possible.

SMM December 30 News:

As New Year's Day approaches, the domestic molybdenum market has shown stable transactions and prices.

【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】

Amid strong sentiment to stabilize prices among molybdenum mines, suppliers of molybdenum raw materials maintaining a sentiment to stand firm on quotes due to high-cost inventory, and stable prices with increased procurement of ferromolybdenum by steel mills, molybdenum prices are supported by costs against declines but are restrained by downstream resistance to increases.

It is expected that before the holiday, molybdenum prices are unlikely to decline, with a slight upward adjustment in quotations possible.

》View SMM Tungsten and Molybdenum Product Quotations, Data, and Market Analysis

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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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