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Molybdenum Market - February 24, 2026

Molybdenum market update on February 24, 2026

On the first trading day after the holiday, the domestic molybdenum market overall welcomed a strong opening, with the center of gravity of most product prices shifting significantly upward, including molybdenum concentrate price increased by approximately RMB 80 per tonne-degree, ferromolybdenum price increased by approximately RMB 5,000/ton, and molybdenum powder price increased by approximately RMB 5/kg.

According to CTIA GROUP LTD, the factors influencing the domestic molybdenum market trend mainly include: first, during the Spring Festival period, China's molybdenum product imports decreased, while output at most domestic molybdenum manufacturers declined, together pushing molybdenum product prices upward; second, during the Spring Festival, international molybdenum prices fluctuated significantly; third, after the Spring Festival holiday ended, downstream users gradually resumed procurement plans, enhancing suppliers' confidence in raising prices, with quotations generally increased.

On the news front: Data from the China Iron and Steel Association show that in early February 2026, steel inventory of key statistical steel enterprises was 15.11 million tons, increased by 400,000 tons compared to the previous ten-day period, up 2.7%; increased by 970,000 tons from the beginning of the year, up 6.9%; increased by 70,000 tons compared to the same ten-day period last month, up 0.5%; decreased by 1.10 million tons compared to the same ten-day period last year, down 6.8%; decreased by 1.02 million tons compared to the same ten-day period the year before last, down 6.3%. By region, Northeast region steel inventory increased by 350,000 tons, Northwest region steel inventory increased by 40,000 tons, Southwest region steel inventory increased by 30,000 tons, Central and South China region steel inventory increased by 240,000 tons, North China region steel inventory decreased by 160,000 tons, and East China region steel inventory decreased by 110,000 tons.

Price of molybdenum products on February 24, 2026

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