Molybdenum market update on february 11, 2025
The domestic molybdenum market continues to move sideways. Influenced by factors such as an increase in the quantity but a decrease in the price of steel procurement tenders, a weak international molybdenum market, and a gradually weakening cost-driven price support, traders mainly adopt a cautious wait-and-see attitude. As a result, market trading activity is moderate, and there are no significant fluctuations in product prices.
As an important intermediate market for molybdenum products, the ferromolybdenum market as a whole is under pressure but remains stable. After the festival, steel enterprises have successively entered the market to tender for ferromolybdenum, bolstering suppliers' confidence in stabilizing prices to a large extent. However, due to the lukewarm steel market and the difficulty of raising steel prices, steel enterprises offer relatively low prices for ferromolybdenum, leaving little room for raw material suppliers to reduce prices further. This has led to a relatively high risk of cost-price inversion for ferromolybdenum manufacturers. Recently, steel enterprises such as Shanxi Taigang, Nanjing Iron and Steel, Huaigang Special Steel, Xinyu Iron and Steel, and Guangdong Shaogang have entered the market to tender for ferromolybdenum. The tender price is around 229,000 yuan per ton.
In terms of news, data from the China Iron and Steel Association shows that in the second half of January 2025, key statistics iron and steel enterprises produced a total of 23.2 million tons of crude steel, with an average daily output of 2.109 million tons, a daily output increase of 1.8% month-on-month; 20.89 million tons of pig iron, with an average daily output of 1.899 million tons, a daily output increase of 2.5% month-on-month; and 22.25 million tons of steel products, with an average daily output of 2.023 million tons, a daily output increase of 2.6% month-on-month.
Prices of molybdenum products on February 11, 2025
TZM alloy sheet pictures
