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Molybdenum Market - January 27, 2026

Molybdenum market update on January 27, 2026

The domestic molybdenum market overall showed no obvious changes for the time being.

Against the background of relatively balanced supply and demand and the continuously prominent status of strategic metals, product prices basically consolidated within a reasonable range, with limited actual transaction volume, and most industry players had general expectations for the future market.

From the supply side, the spot supply of market raw materials remained relatively sufficient, mainly attributed to molybdenum manufacturers basically maintaining normal production, downstream users' inquiry and procurement enthusiasm somewhat weakened compared to the beginning of the month, and China's molybdenum products import volume remaining at a relatively high level. In 2025, China's molybdenum products imports totaled 92,008.31 tons, increased by 16.54% year-on-year; among them, imports of roasted molybdenum ores and concentrates totaled 17,531.41 tons, increased by 171.80% year-on-year; molybdenum oxides and hydroxides totaled 1,986.84 tons, increased by 10.34% year-on-year; ferromolybdenum totaled 7,082.35 tons, decreased by 11.06% year-on-year; molybdenum powder totaled 4.98 tons, increased by 4.96% year-on-year.

From the demand side, first, with the approaching Spring Festival holiday, buyers' consumption mentality generally tended to be cautious; second, although molybdenum prices have oscillated downward recently, the decline amplitude was limited, and current product prices remained higher than pre-New Year's Day levels, which was unfavorable for further release of market demand; third, from a long-term perspective, with the rapid development of molybdenum downstream industries, future molybdenum product consumption is expected to increase.

On the news front: Data from the China Iron and Steel Association show that in mid-January 2026, key statistical steel enterprises produced a total of 19.79 million tons of crude steel, with an average daily output of 1.979 million tons, daily output decreased by 0.9% month-on-month. By region, Northeast region crude steel daily output decreased by 5,000 tons, North China region crude steel daily output decreased by 15,000 tons, East China region crude steel daily output decreased by 3,000 tons, Northwest region crude steel daily output decreased by 6,000 tons, Southwest region crude steel daily output increased by 4,000 tons, and Central and South China region crude steel daily output increased by 6,000 tons.

Price of molybdenum products on January 27, 2026

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