Steel Tender Prices Remain Stable, Molybdenum Market Ends on a Strong Note [SMM Molybdenum Daily Review]

SMM December 31 News:

On the last trading day of 2024, domestic molybdenum prices remained stable, with steady participation from steel mill tenders and mine shipments. The molybdenum market is poised for further development.

【Price Quotations】

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】

Today, a Jiangxi molybdenum mine auctioned 288 mt of 45-50% molybdenum concentrate, with a base price of 3,590 yuan/mtu and a transaction price of 3,595 yuan/mtu (65% acceptance, 35% cash). The mainstream negotiation prices for regular-grade molybdenum concentrate were concentrated at 3,590-3,610 yuan/mtu, showing stable price performance.

Ferromolybdenum tender prices remained stable at 230,000 yuan/mt, with occasional steel mill tender prices rising above 233,000 yuan/mt, which cannot yet serve as a mainstream market reference. Stocking demand from end-users is expected to enter the market after the New Year holiday, with an anticipated upward trend in molybdenum prices.

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