- Duplex prices may fall further amid bearishness in molybdenum
- China’s duplex production increases by 7.1% y-o-y in Jan-Oct’25
SteelDaily: Duplex 2205 stainless steel prices in China’s Wuxi market have continued to weaken since mid-September, falling by around RMB 600/t ($85/t) in November. Hot-rolled coil (HRC) prices were assessed at RMB 26,200-26,300/t ($3,690-$3,704/t). The decline was primarily driven by lower production costs due to falling molybdenum prices, coupled with subdued end-user demand.
Production growth despite price pressure
China’s duplex stainless steel output remains on an upward trajectory, rising 7.1% y-o-y to approximately 484,600 t in January-October 2025. Key sectors supporting this growth include wind power, nuclear power, petrochemicals, and shipbuilding.
Ferro molybdenum price volatility impacts market
Ferro molybdenum prices surged to a peak in September but have since corrected sharply. October purchasing volumes fell 8.2% m-o-m to 44,500 t. In November, molybdenum concentrate prices declined further, squeezing producer margins and pushing some smelters into losses. Although mining companies’ selling pressure has eased, overall sentiment remains weak, with additional price corrections still possible.
Outlook
In the near term, the downward trend is expected to persist until adjustments in molybdenum mine output help stabilise pricing. Once supply tightens, both ferro molybdenum and duplex stainless steel prices are likely to find support and halt the recent declines.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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