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Molybdenum Prices - January 29, 2026

Molybdenum market update on January 29, 2026

The domestic molybdenum prices overall showed a slight upward shift in center of gravity, with molybdenum concentrate, ferromolybdenum, and molybdenum powder prices increased by approximately RMB 10 per tonne-degree, RMB 1,000/ton, and RMB 2/kg respectively.

Under this market condition, traders basically maintained rigid demand transactions, new orders were limited, and participants had a somewhat bearish expectation for the future market.

From the bullish factors perspective, first, influenced by the continuous upward movement in precious metals and some minor metals such as tungsten recently, suppliers generally held strong reluctance to sell while maintaining bullish sentiment; second, to ensure normal production during the Spring Festival holiday, some consumers still showed relatively high enthusiasm for entering the market to inquire and procure; third, affected by high energy prices, low temperatures, and intensified environmental crackdowns on illegal operations, some molybdenum manufacturers reduced output to some extent.

From the bearish factors perspective, first, against the background of low downstream demand recently and China's relatively high molybdenum products imports and low exports in 2025, market spot supply remained relatively loose; second, the lukewarm trend in the international molybdenum market was not conducive to upward movement in domestic molybdenum prices; third, limited liquidity for downstream enterprises somewhat restrained the release of market demand.

On the news front: Data from the China Iron and Steel Association show that in mid-January 2026, steel inventory of key statistical steel enterprises was 16.13 million tons, increased by 1.09 million tons compared to the previous ten-day period, up 7.3%; increased by 1.99 million tons from the beginning of the year, up 14.1%; increased by 120,000 tons compared to the same ten-day period last month, up 0.8%; increased by 3.20 million tons compared to the same ten-day period last year, up 24.7%; increased by 780,000 tons compared to the same ten-day period the year before last, up 5.1%. By region, Northeast region steel inventory increased by 310,000 tons, North China region steel inventory increased by 80,000 tons, East China region steel inventory increased by 490,000 tons, Northwest region steel inventory increased by 40,000 tons, Central and South China region steel inventory increased by 170,000 tons, and Southwest region steel inventory remained basically flat compared to the previous ten-day period.

Price of molybdenum products on January 29, 2026

Images of molybdenum copper sheet

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