Molybdenum market update on February 26, 2025
The domestic molybdenum market as a whole presented a steadily weak operating trend. In the complex situation where bullish and bearish factors were intertwined, buyers and sellers engaged in fierce price-setting battles, and most of them adopted a cautious wait-and-see stance, resulting in sluggish order growth.
From the perspective of positive factors, first, the international molybdenum market has been performing well recently, and the international molybdenum price has been fluctuating upward. This has injected a certain degree of confidence into price-stabilization efforts for domestic suppliers. Second, although the strong support from production costs has reduced suppliers' willingness to make price concessions, steel companies have continued their purchasing activities and have successively bid for molybdenum iron in the market. Recently, steel companies such as Dongfang Special Steel, Baote Gaojin, Hengyang Valin Steel Pipe, Jiangsu Nangang, Huaigang Special Steel, and Shanxi Taigang have participated in the molybdenum-iron bidding.
From the perspective of negative factors, first, steel enterprises find it difficult to raise their bidding prices. This directly creates numerous obstacles to the increase in ferromolybdenum prices and, in turn, has a negative impact on the quotations of other molybdenum products. Second, with the continuous progress of science and technology, some molybdenum manufacturers have been releasing their production capacity at a faster pace, so the market spot supply is relatively ample. Third, the rise in international molybdenum prices has a relatively limited driving effect on the domestic market and has failed to fully stimulate the upward momentum of domestic molybdenum prices.
According to data from the China Iron and Steel Association, in mid-February, the social inventory of five major steel varieties in 21 cities reached 10.73 million tons. This was an increase of 1.33 million tons from the previous month, representing a 14.1% growth, and the inventory continued to rise. It was an increase of 4.14 million tons from the beginning of the year, a 62.8% increase, and a decrease of 1.39 million tons from the same period last year, a 11.5% decrease.
Prices of molybdenum products on February 26, 2025
Molybdenum wire picture
