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Molybdenum Market - March 23, 2026

Molybdenum market update on March 23, 2026

On Monday, the domestic molybdenum market overall maintained a stable-to-weak trend.

Due to strong price-cutting sentiment from steel mills and the gradual digestion of previous favorable factors, some suppliers showed less confidence in holding prices, with molybdenum ferroalloy manufacturers reducing their quotes by RMB 2,000/ton. Recently, steel companies tendering for molybdenum ferroalloy include Wuhan Steel Xiangyang Heavy Equipment, Dongfang Special Steel, China First Heavy Industries, Fujian Sansteel, Citic Heavy Industries, Jiangyin Xinxing Special Steel, and Ansteel. The tender prices for steel mills are generally around RMB 279,000/ton.

In terms of news, data from the National Bureau of Statistics shows that from January to February 2026, the added value of industrial enterprises above the designated size increased by 6.3% year-on-year, accelerating by 1.1 percentage points compared to December of the previous year. By sector, the mining industry, manufacturing industry, and electricity, heat, gas, and water production and supply industry increased by 6.1%, 6.6%, and 4.7%, respectively, with growth rates accelerating by 0.7, 0.9, and 3.9 percentage points, respectively. By industry, 35 out of the 41 major industrial categories saw growth in their added value, with a growth coverage of 85.4%. By product, of the 626 major industrial products surveyed, the output of 397 products increased, with a growth coverage of 63.4%.

Price of molybdenum products on March 23, 2026

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