Jinduicheng Molybdenum

What Jinduicheng Molybdenum does

Jinduicheng Molybdenum Co., Ltd. (金堆城钼业股份有限公司, ticker 601958.SH) is China's largest molybdenum producer and Asia's leading supplier of molybdenum products, headquartered in Xi'an, Shaanxi Province. Founded in 2007 as a joint venture led by Jinduicheng Molybdenum Group alongside Taiyuan Steel, CNMC Ningxia Oriental, and Baosteel, the company listed on the Shanghai Stock Exchange in April 2008, becoming the first A-share listed molybdenum company in China. The company operates a fully vertically integrated value chain spanning two owned molybdenum mines (Jinduicheng and Ruyang Donggou), ore processing at 40,000 tons/day capacity, multi-story furnace roasting, chemical production, and metal fabrication, supplying approximately 10% of global molybdenum demand and controlling over 1.5 million tons of molybdenum resource reserves.

The company's three product lines are molybdenum furnace materials (molybdenum concentrate in KMo-47 through KMo-57 grades, roasted concentrate in powder and lump forms, and ferromolybdenum in FeMo55-FeMo65 grades), molybdenum chemical products (a full ammonium molybdate series including di-, tetra-, hepta-, octa-, and dodecamolybdate, plus high-purity molybdenum trioxide at 99.70-99.95% purity, high-purity molybdenum disulfide, and sodium molybdate), and molybdenum metal products (molybdenum powder at 20,000 t/a capacity, spherical and plasma spheroidized powders for additive manufacturing, TZM alloy powder with oxygen content below 200ppm, plates, bars, rods, wires, crucibles, and G6 OLED sputtering targets). It holds over 400 authorized patents and operates China's only national enterprise technology center dedicated to molybdenum, with proprietary capabilities including sole-domestic 57% Mo high-grade concentrate production, G6 OLED targets certified by Samsung/BOE/Tianma, and seamless molybdenum alloy thin-walled tubes (8mm OD, 0.6mm wall, 8m length).

The company serves steel and metallurgy (primary), petrochemicals, aerospace and defense, electronics and semiconductors, and nuclear energy, executing a "refine mining, expand furnace materials, strengthen chemicals, optimize metals, solidify trade, activate by-products" strategy. Pricing is negotiated per-transaction based on international molybdenum market conditions, with no public price list. Products are sold through dedicated sales departments to domestic Chinese customers and exported via a global integrated network and Hong Kong subsidiary to Europe, Americas, Africa, Australia, Japan, South Korea, and India. The company generated record FY2024 operating revenue of 13.572 billion CNY (~$1.87B USD), employs 5,001-10,000 staff across the listed entity (with JDC Group totaling approximately 7,000), and is a subsidiary of Shaanxi Nonferrous Metals Holding Group (a state-owned conglomerate holding approximately 74.98% as of 2021).

Name

Jinduicheng Molybdenum

Legal name

金堆城�ylium Co., Ltd.

Website

https://jdcmoly.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Jinduicheng Molybdenum (601958.SH) is China's largest molybdenum producer and Asia's leading supplier, operating a vertically integrated value chain from two owned molybdenum mines through chemical and metal fabrication. It supplies approximately 10% of global molybdenum demand to steel, petrochemical, electronics, aerospace, defense, and nuclear customers worldwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Changan

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Infrastructure, Operations, Personnel

Revenue model

1. Molybdenum Metallurgical Furnace Materials: Production and sale of molybdenum concentrate, roasted molybdenum concentrate (powder and lump), and ferromolybdenum. Molybdenum furnace materials are primarily used as additives in producing alloy steel and stainless steel, with about 20% of stainless steel types containing molybdenum. This is the company's largest revenue stream.
2. Molybdenum Chemical Products: Production and sale of ammonium molybdate (including reagent ammonium molybdate, ammonium dimolybdate, ammonium tetramolybdate, ammonium heptamolybdate, ammonium octamolybdate, ammonium dodecamolybdate), high-purity molybdenum trioxide, high-purity molybdenum disulfide, and industrial sodium molybdate. These products serve catalysts, corrosion prevention, agriculture, water treatment, and industrial applications.
3. Molybdenum Metal Products: Production and sale of molybdenum powder, molybdenum bars, molybdenum plates, molybdenum rods, molybdenum wires, molybdenum crucibles, molybdenum targets, molybdenum alloy products (TZM), and other fabricated molybdenum products. Molybdenum powder and products have a production capacity of 20,000 t/a.
4. By-products and Other Products: Sale of sulfur concentrate, iron concentrate, and sulfuric acid. The company's iron concentrate has iron content above 63% with stable and reliable quality.
5. International Trade: The company has a global integrated sales network, with molybdenum products sold to Europe, Americas, Africa, Australia, Japan, South Korea, India and other countries and regions, accounting for approximately 10% of world molybdenum market share.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Jinduicheng Molybdenum operates a vertically integrated molybdenum value chain covering mining, ore processing, smelting, chemical processing, and metal fabrication. It produces molybdenum furnace materials (molybdenum concentrate, roasted molybdenum concentrate, ferromolybdenum), molybdenum chemical products (ammonium molybdate series, high-purity molybdenum trioxide, molybdenum disulfide, sodium molybdate), and molybdenum metal products (molybdenum powder, bars, plates, rods, wires, crucibles, sputtering targets, TZM alloys), along with by-products such as sulfuric acid, iron concentrate, and sulfur concentrate. The company serves steel, petrochemical, electronics/semiconductor, aerospace, defense, and nuclear industries globally.

Product overview

Jinduicheng Molybdenum (金堆城钼业股份有限公司, JDC) operates as a vertically integrated molybdenum producer offering three main product lines: molybdenum furnace charge products (钼炉料), molybdenum chemical products (钼化工), and molybdenum metal products (钼金属), along with byproducts including sulfuric acid, iron concentrate, and sulfur concentrate. The furnace charge line includes molybdenum concentrate (钼精矿), roasted molybdenum concentrate in powder and lump forms (焙烧钼精矿), and ferro-molybdenum (钼铁). The chemical product line centers on ammonium molybdate variants — including di-, tetra-, hepta-, octa-, and dodecamolybdate (二钼酸铵, 四钼酸铵, 七钼酸铵, 八钼酸铵, 十二钼酸铵) — as well as high-purity molybdenum trioxide (高纯三氧化钼), sodium molybdate (钼酸钠), and high-purity molybdenum disulfide (高纯二硫化钼). The metal products line encompasses molybdenum powder, spherical powder for additive manufacturing, TZM alloy powder, plate坯, bar坯, molybdenum rods, molybdenum targets (钼靶材) for OLED/semiconductor applications, and specialty items such as large molybdenum crucibles and molybdenum stirrers. The company holds approximately 150,000 tons of molybdenum resource reserves, with annual production capacity of 20,000 t/a for molybdenum metal products.

Differentiator

Problem solved

Functional benefit

Brands

• JDC: Company's main brand logo and trademark - abbreviation of Jin Dui Cheng. The JDC logo resembles a high-speed train, symbolizing corporate cohesion, breakthrough, and rapid development. The brand is recognized globally in the molybdenum industry.

Products and services

• Molybdenum Concentrate (钼精矿)

Quantifiable outcome

• Achieved 97%+ base soil retention with interlayer coefficient α ≤ 10.4 in tailings pond filter design — surpassing Terzaghi's traditional conservative limit of α < 4 (research collaboration, not company product)
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered major, core and minor.

• Hunan Yinfeng New Energy (湖南银峰新能源有限公司)majorStrategic or Co-development Partner · 1 May 2024In May 2024, Jinduicheng Molybdenum Group partnered with Hunan Yinfeng New Energy to construct a 10,000 cubic meter all-vanadium flow battery electrolyte production line at the Luofu Industrial Park. Total investment of 117 million yuan, with an automated production line expected to start production in 2026. Projected annual output: 10,000 cubic meters of electrolyte, 40 MW of electrolyzers, total capacity 40MW/160MWh, with annual output value of 300 million yuan. The partnership aims to build the largest vanadium energy storage materials base in Northwest China, targeting the full vanadium resource development chain from key materials to battery manufacturing, system integration, and end-user applications.
• Xi'an Jiaotong University (西安交通大学)coreStrategic or Co-development PartnerLong-term strategic cooperation in talent development and joint research. Signed strategic cooperation framework agreement in July 2018. Joint research on low-oxygen molybdenum powder industrialization project completed nearly two years ahead of schedule, reaching mass production in 2024 with projected output of 135 million yuan by 2026. The company's technical center operates the Xi'an Jiaotong University Metal Materials State Key Laboratory collaboration.
• Xi'an University of Architecture and Technology (西安建筑科技大学)coreStrategic or Co-development PartnerLong-term strategic cooperation with joint research on low-oxygen molybdenum powder industrialization project. The company partnered with this university on the 'Low-Oxygen Molybdenum Powder Industrialization Research' project, achieving mass production nearly two years ahead of schedule. Also jointly established the Shaanxi Province Resource Comprehensive Utilization Engineering Technology Research Center.
• Shaanxi Venture College (陕西创业学院)minorStrategic or Co-development PartnerIn September 2019, the company signed a co-construction agreement with Shaanxi Venture College to jointly build the 'Metal Materials Professional Mass Innovation Space' (金属材料专业化众创空间). The platform focuses on research, production, application, resource recycling and environmental protection of molybdenum and related metal materials, aiming to create an optimal platform for technology transfer in China's metal materials sector.
• Chinese Academy of Sciences — Institute of Process Engineering (中科院过程工程研究所)minorStrategic or Co-development PartnerStrategic cooperation framework agreement signed with Academician Zhang Suojiang of the Chinese Academy of Sciences in August 2019, focusing on process engineering and industrial applications.
• Beijing University of Science and Technology (北京科技大学)minorStrategic or Co-development PartnerLong-term cooperation relationship. Signed cooperation agreement with Academician Wang Zegao of Beijing University of Science and Technology in March 2015 for joint research in metallurgy and materials science.
• Northwest Institute for Non-ferrous Metals Research (西北有色金属研究院)minorStrategic or Co-development PartnerLong-term technical cooperation relationship with Northwest Institute for Non-ferrous Metals Research, a leading Chinese research institution in non-ferrous metals, focusing on research collaboration and technical exchanges.
• China Nuclear Power Research Institute (中广核研究院有限公司)majorStrategic or Co-development PartnerIn September 2016, the company and China Nuclear Power Research Institute signed a cooperation agreement for R&D and commissioned development of new nuclear fuel cladding materials using molybdenum alloy tubes and bars. Phase 1 of the project passed acceptance review in December 2014, marking the company's entry into the nuclear energy materials sector.
• Youser Group / Shaanxi Non-ferrous Metals Holding Group (陕西有色金属控股集团有限责任公司)coreOthersJinduicheng Molybdenum Group is a subsidiary of Shaanxi Non-ferrous Metals Holding Group. The parent group provides strategic direction, capital management, and governance oversight. JDC Group is the controlling shareholder of Jinduicheng Molybdenum Co., Ltd. (stock: 601958.SH), holding approximately 74.98% of shares as of 2021.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• KGHM Polska Miedź S.A. Polish state-owned integrated copper/silver producer with meaningful molybdenum output as a by-product of its copper operations. KGHM competes with JDC in supplying molybdenum to European steel and specialty markets and provides a relevant benchmark for SOE-style nonferrous metal operations.
• Rio Tinto Group: Global diversified mining major with by-product molybdenum from its Bingham Canyon copper mine. While much larger and diversified, Rio Tinto represents a comparable end-state for JDC's vertical integration ambitions and a benchmark for mining SOE/private governance contrast.
• Codelco: Chile's state-owned copper mining giant produces significant molybdenum volumes as a by-product from its Chuquicamata and El Teniente mines. As the world's largest copper producer, Codelco's by-product molybdenum competes globally with primary producers like JDC and helps set the marginal cost benchmark in the molybdenum supply curve.
• Antofagasta plc: London-listed Chilean copper miner with substantial molybdenum by-product credits from its Centinela and Los Pelambres mines. Antofagasta's molybdenum output competes in the global market and its copper-molybdenum integrated operations represent a comparable business model to JDC's vertically integrated structure.

Direct peers

• Plansee SE: Austrian-headquartered Plansee is the global leader in refractory metal (molybdenum, tungsten, tantalum) fabricated products, including sputtering targets for flat panel displays. Plansee directly competes with JDC's high-end metal products and OLED targets business, and JDC explicitly identifies Plansee as an established cooperative partner.
• Freeport-McMoRan Inc. Freeport-McMoRan is the world's largest molybdenum producer as a by-product of its massive copper mining operations (with primary molybdenum capacity at Climax and Henderson in the U.S.). It is a direct peer in global molybdenum supply with structurally low marginal cost, directly competing with JDC for global steel and specialty alloy customers.
• China Molybdenum Co., Ltd. (CMOC): CMOC is the largest pure-play molybdenum producer in China and the most direct competitor to Jinduicheng. Both companies mine and process primary molybdenum ores and sell downstream ferro-molybdenum and chemicals; CMOC operates the giant Sandaozhuang mine in Henan and the Brazilian niobium-phosphate assets, providing head-to-head competition in Chinese and global molybdenum markets.

Regional players

• Zhuzhou Smelter Group (Zhuye Group): Chinese state-owned lead/zinc and nonferrous metals producer with related by-product operations. As a fellow Hunan/Shaanxi-region Chinese SOE nonferrous metals group, it provides a relevant regional comparison for state-owned integrated metal processing business models.
• Sumitomo Metal Mining Co., Ltd. Japanese diversified nonferrous metals producer with nickel, copper, and minor molybdenum exposure, and a strong Asian customer base in display materials. Provides regional competitive context for JDC's expansion into Asian specialty alloy and chemical markets.
• Tongling Nonferrous Metals Group: Chinese state-owned nonferrous metals group engaged in copper, gold, and by-product molybdenum production. As a fellow Chinese SOE nonferrous peer, Tongling competes for similar domestic steel and chemical customers and faces the same regulatory and ESG environment as JDC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jinduicheng-molybdenum-co-ltd-

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Jinduicheng Molybdenum