SMM News on July 29:
On July 29th, multiple molybdenum concentrate enterprises in China conducted bidding sales of molybdenum concentrate. The trading of molybdenum concentrate was active, with opening prices surging significantly. Supported by strong downstream costs, major ferromolybdenum plants suspended their quotations. Meanwhile, low-price bidding by steel mills resulted in failed bids, and the focus of market transactions shifted upward.
SMM's quoted price for 45%-50% molybdenum concentrate was 4,250-4,300 yuan per ton-degree, up 210 yuan per ton-degree from the previous trading day, with the single-day increase hitting a record high. The quoted price for molybdenum concentrate with a grade of over 50% was 4,300-4,365 yuan per ton-degree, rising by 237.5 yuan per ton-degree from the previous trading day. Domestic molybdenum concentrate prices reached the highest level since August 2023.
SMM's quoted price for ferromolybdenum was 270,000-280,000 yuan per ton, an increase of 12,000 yuan per ton from the previous trading day.
On July 29th, a large molybdenum concentrate enterprise in Luoyang, Henan Province conducted bidding sales for molybdenum concentrate with a grade of over 50%. A total of 11 bidding sessions were held, involving 810 tons of molybdenum concentrate. The transaction prices (including tax, cash in advance) ranged from 4,300 to 4,365 yuan per ton-degree, with a weighted average price of 4,340.7 yuan per ton-degree. The specific information is as follows:
On July 29th, a mine in Jiangxi sold 224 tons of high-copper molybdenum concentrate with a grade of 45-50%. The base price was 4,140 yuan per ton-degree, and the opening bid price was 4,250 yuan per ton-degree (with 65% paid by acceptance bill).
On the afternoon of July 29th, a mine in Luanchuan, Henan sold 100 tons of molybdenum concentrate with a grade of over 50%. The base price was 4,300 yuan per ton-degree, and the opening bid price was 4,340 yuan per ton-degree.
Under significant cost pressure, coupled with the concentrated high-level transactions in the raw material market, most ferromolybdenum plants chose to hold their stocks and refrain from selling today. Market trading was in a stalemate, and many enterprises suspended their quotations. Downstream steel mills showed active inquiries, but products such as stainless steel were under great cost pressure. As a result, the procurement prices of Chinese steel mills rose slightly slower following the market. Some steel mills entered the market for procurement, with the bid opening prices mainly ranging from 265,000 to 268,600 yuan per ton.
In the short term, mines are releasing supplies intensively, and transaction prices have risen sharply, pushing up industry costs. Based on the current molybdenum concentrate prices, the cost of 60% ferromolybdenum has reached as high as 280,000 yuan per ton, providing strong cost support for the industry. In the short term, prices are likely to continue to follow the upward trend. Going forward, it is still necessary to pay attention to the volume of steel procurement tenders and the transaction situation of molybdenum concentrates.
![Baiyin Nonferrous Group Co., Ltd. Conducted a Competitive Bid Sale of 33 mt of Crude Selenium on the 11th [SMM Selenium Report]](https://imgqn.smm.cn/usercenter/XUnxM20251217171723.jpeg)
