Molybdenum market update on May 15, 2025
The domestic molybdenum market in China remains stable, with traders engaging in primarily rigid transactions, resulting in moderate market trading activity, no significant price changes, and slow order growth. Today, prices for molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate are consolidating at approximately 3,530 yuan/ton-degree, 230,000 yuan/ton, and 224,000 yuan/ton, respectively.
From the supply side: first, with relatively favorable weather conditions and moderate inquiry and purchasing activity from downstream users, molybdenum manufacturers are maintaining a normal production pace, ensuring that spot supply remains adequate; second, due to high international molybdenum prices and moderate purchasing power of the yuan (with the USD to CNY exchange rate at around 7.21 at 9 AM today), China's molybdenum product imports are limited. Customs data shows that in Q1 2025, China imported 21,329.20 tons of molybdenum products, down 12.97% quarter-on-quarter, with an import value of 3.08 billion yuan, down 13.53%.
From the demand side: first, despite low willingness from ferromolybdenum manufacturers to offer price concessions, several steel companies, such as Shanxi Taigang, Shandong Laiwu, Jiangsu Nangang, and CITIC Pacific, are still willing to enter the market; second, influenced by tariff policy changes and significant geopolitical risks, China's molybdenum product exports remain low. In Q1 2025, China's molybdenum product exports totaled 9,535.28 tons, down 19.67% quarter-on-quarter, with an export value of 2.049 billion yuan, down 23.02%.
According to the China Iron and Steel Association, in early May 2025, key monitored steel enterprises produced a total of 22.05 million tons of crude steel, with an average daily output of 220,500 tons, up 0.2% month-on-month. By region, daily crude steel output increased by 3,000 tons in Northeast China, 9,000 tons in North China, and 22,000 tons in Southwest China, while it decreased by 13,000 tons in East China, 4,000 tons in Northwest China, and 13,000 tons in Central-South China.
Price of molybdenum products on May 15, 2025
Molybdenum sheet picture
