China’s molybdenum market steadied this week after last week’s correction, with prices holding flat across the board:
📊 Key figures
- Mo concentrate: Mo40-45% at 5,370-5,400 yuan/tonne-degree, Mo45-50% at 5,400-5,430 yuan/tonne-degree — steady
- Ferromolybdenum (FeMo): retail cash 338,000-342,000 yuan/ton, acceptance 340,000-344,000 yuan/ton — steady
- Steel mill tenders: new round settled around 338,600-342,000 yuan/ton
🔍 Our read
- After last week’s cumulative drop of ~50 yuan/tonne-degree (Mo concentrate) and ~3,000 yuan/ton (FeMo), volatility has now eased.
- Three supports: firm raw-material costs, rebounding international molybdenum prices, and renewed steel-mill tender buying.
- This month’s steel mill FeMo tender volume reached ~14,000 tons (incl. long-term contracts), with sentiment turning more positive and sellers less willing to cut prices.
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