According to SMM, on February 25, an Indonesian major stainless steel mill sharply raised its 316 export quotation by USD 100/mt, widening the price gap with 304 to USD 1,700/mt. This surge is heavily driven by a rallying molybdenum market, which saw gains prior to the break due to rising international oxide molybdenum prices and downstream restocking. Following the resumption of operations, domestic molybdenum mines have maintained tight supply due to seasonal weakness and declining ore grades. With strong cost support and a surge in restocking from steel mills, the ferromolybdenum market is projected to maintain a strong, volatile upward trend in the short term.

[SMM Molybdenum Daily Review: Suppliers' Sentiment in Molybdenum Market Loosens, Ferromolybdenum Prices Experience Slight Correction] SMM News on June 16: Today, suppliers' sentiment in the molybdenum market has loosened. The ore sector is operating steadily for now, but the circulation in the ferromolybdenum market is slightly looser, leading to a slight correction in prices.

[SMM Molybdenum Daily Review: Molybdenum Concentrate Prices Fluctuate at Highs amid High Temperatures, with Molybdenum Iron Prices Rising in Recent Steel Tenders] SMM June 10 Report: Today, the molybdenum market mainly fluctuated at highs. Costs at the mining end remained at highs, while enterprises in the downstream molybdenum iron and molybdenum chemical industries faced poor profitability, with prices mainly following the upward trend of the upstream. Today, the price of 45%-50% molybdenum concentrate was 3,830-3,860 yuan/mtu, unchanged from the previous trading day. Molybdenum iron prices closed at 245,000-250,000 yuan/mt, unchanged from the previous trading day.

Entering June, the market trend of molybdenum remains highly noticeable. At the beginning of the month, bidding prices of mainstream mines were successively finalized, with ore prices still maintaining a high upward trend. On June 4th, a mine in Jiangxi tendered and sold molybdenum concentrate with a grade of 45%-50%, with a transaction price of 3,865 yuan/ton-degree. Additionally, on June 6th, a mine in Henan sold molybdenum concentrate with a grade of 50% and above offline, with a transaction price of 3,870 yuan/ton-degree. What about the future market?

[SMM Analysis: Molybdenum Ore Bidding Prices Rise Again, Molybdenum Market to Fluctuate at Highs in Short Term] As June began, the molybdenum market continued to attract significant attention. Early in the month, the bidding prices of mainstream mines were successively finalized, with ore prices maintaining an upward trend at highs. On June 4, a mine in Jiangxi tendered the sale of molybdenum concentrate with a grade of 45%-50%, achieving a transaction price of 3,865 yuan/mtu. Additionally, on June 6, a mine in Henan conducted an offline sale of molybdenum concentrate with a grade of 50% and above, achieving a transaction price of 3,870 yuan/mtu. What lies ahead for the market?

[SMM Commentary: Supply of Molybdenum Concentrate at Raw Material End is Tight, Steel Mills' Bidding Gradually Enters the Market, Ferromolybdenum Prices Rise Nearly 10% in Over a Month] The supply of molybdenum concentrate at the raw material end is tight, and suppliers are increasingly reluctant to sell, making it difficult to find low-priced supplies in the market. On the demand side, steel mills' bidding is gradually entering the market. As several mainstream steel mills have successively entered the market for procurement, this has provided support for molybdenum prices from the demand side. In particular, representative steel mills have accepted higher prices for ferromolybdenum, leading to a strong upward trend in ferromolybdenum prices. The support from both supply and demand has driven an overall significant upward shift in prices across the entire molybdenum industry chain, with ferromolybdenum prices surging nearly 10% in just over a month!