On May 14, a Mine in Jiangxi Sold 128 mt of Molybdenum Concentrates at 5,230 Yuan

[SMM Steel] EU carbon allowance (EUA Dec-2026) prices remained at €74-77/t in early May, similar to late-April levels, with April average prices at €74.04/t, up 5.7% from March. The market was influenced by Middle East tensions, energy price volatility, and EU ETS policy revisions. The European Commission proposed updated EU ETS benchmarks for 2026-2030, with free allowances expected to cover around 75% of industrial emissions and potentially save industries €4 billion in carbon costs. Reuters surveys also showed analysts lowering 2026 carbon price forecasts to €80.61/t from €92.65/t previously.

[Molybdenum News Flash] SMM May 14: A steel mill in Liaoning priced its ferromolybdenum tender at 324,000 yuan/mt on May 14, payment by bank acceptance. A steel mill in Hebei's ferromolybdenum tender on May 13 ultimately failed.

Social inventory of HRC stood at 2.9862 million mt this week, down 98,400 mt from the previous week (-3.19% WoW, +42.51% YoY, +30.06% YoY on a lunar calendar basis). Mill inventory of HRC stood at 979,900 mt this week, down 4,900 mt from the previous week (-0.50% WoW, -7.13% YoY, -11.68% YoY on a lunar calendar basis). Total HRC inventory stood at 3.9661 million mt this week, down 103,300 mt from the previous week (-2.54% WoW, +25.89% YoY, +16.46% YoY on a lunar calendar basis).