SMM Analysis On China October Molybdenum Concentrate Production And November Forecast

According to SMM data, China's molybdenum concentrate production in October increased by approximately 1% MoM.

During October, domestic molybdenum market procurement demand steadily emerged, and overall consumption remained strong, driving molybdenum concentrate profits to stay at a high level. Against this consumption backdrop, major molybdenum mines maintained full-capacity production to meet downstream market demand, with no plans for maintenance or production cuts.

Looking ahead to November, downstream demand in the molybdenum market is expected to continue following up, coupled with relatively small spot inventory pressure for molybdenum concentrate. Most molybdenum mines are expected to continue maintaining high production levels with few maintenance plans. It is expected that molybdenum concentrate production will remain stable in November.