According to SMM data, China's molybdenum concentrate production in November decreased by approximately 2% MoM. During November, domestic molybdenum market consumption remained strong, keeping molybdenum prices at high levels and ensuring good profitability for molybdenum concentrate, encouraging mining companies to maintain high operating rates. Additionally, due to strengthened environmental protection-related controls and a decline in ore grade, molybdenum concentrate output in regions such as Henan slightly decreased, leading to a slight overall market production decline.
Entering December, due to increased difficulty in ore processing during the northern winter and fluctuations in ore grade in some areas, molybdenum concentrate production may continue to decline slightly, but most mining companies are expected to maintain stable production levels.
