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Molybdenum Market - January 20, 2026

Molybdenum market update on January 20, 2026

The domestic molybdenum market overall showed relatively good performance, mainly reflected in high enthusiasm among traders for entering the market, firm product price operation, and acceptable actual transaction volume.

Today, molybdenum concentrate, ferromolybdenum, and ammonium tetramolybdate prices were approximately RMB 4,060 per tonne-degree, RMB 263,000/ton, and RMB 249,000/ton respectively.

From the bullish factors perspective, first, affected by stricter environmental policies, lower temperatures, and declining mine grades, some molybdenum mining enterprises have slowed capacity release, which is conducive to suppliers maintaining firm quotations; second, with the approaching Spring Festival holiday and the rapid development of molybdenum downstream industries, downstream users basically maintain rigid demand procurement.

From the bearish factors perspective, first, compared to before New Year's Day, current molybdenum product prices are at relatively high levels; combined with greater market uncertainty during the Spring Festival period, some buyers' consumption has become cautious; second, the weak trend in the international molybdenum market has to a certain extent restrained further warming in the domestic molybdenum market.

On the news front: Data from the China Iron and Steel Association show that in early January 2026, steel inventory of key statistical steel enterprises was 15.04 million tonnes, increased by 6.4% compared to the previous ten-day period, increased by 6.4% from the beginning of the year, increased by 2.0% compared to the same ten-day period last month, increased by 19.5% compared to the same ten-day period last year, and increased by 4.5% compared to the same ten-day period the year before last. By region, Northeast region steel inventory increased by 20,000 tonnes, East China region steel inventory increased by 320,000 tonnes, Northwest region steel inventory increased by 160,000 tonnes, Southwest region steel inventory increased by 80,000 tonnes, Central and South China region steel inventory increased by 340,000 tonnes, and North China region steel inventory decreased by 20,000 tonnes.

Price of molybdenum products on January 20, 2026

Images of molybdenum crucible

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