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Molybdenum Market - March 31, 2026

Molybdenum market update on March 31, 2026

The domestic molybdenum market continues to operate on the stronger side, mainly reflected in a slight increase in the prices of mainstream molybdenum raw materials, a lower willingness among suppliers to reduce prices for sales, and good actual trading volumes.

Today, the prices of molybdenum concentrate and ferromolybdenum increased by approximately RMB 20/ton-degree and RMB 1,000/ton, respectively.

In the molybdenum concentrate market, under the influence of factors such as downstream users maintaining rigid transactions, difficulties in increasing the supply of raw material spot, and a lukewarm international molybdenum market, supplier quotations remain relatively firm.

In the ferromolybdenum market, steel enterprises have gradually started to bid for ferromolybdenum, and it has become difficult to procure low-priced sources. Additionally, some ferromolybdenum manufacturers are reducing production due to maintenance. These factors collectively support the confidence of intermediate smelting enterprises to raise their quotations. The total ferromolybdenum bidding volume from steel mills this month exceeds 15,000 tons.

In the molybdenum chemicals and products market, due to a relatively balanced supply and demand relationship and insufficient driving power from the upstream market, product prices have shown no significant changes, and trading activity in the market remains low.

In terms of news, data from the China Iron and Steel Association (CISA) shows that in mid-March 2026, key steel enterprises produced a total of 19.84 million tons of steel, with an average daily production of 1.984 million tons, a 7.5% increase in daily production compared to the previous month. By region, daily steel production in Northeast China increased by 10,000 tons, in North China it increased by 48,000 tons, in East China it increased by 32,000 tons, in Northwest China it increased by 12,000 tons, in Southwest China it increased by 3,000 tons, and in Central South China it increased by 35,000 tons.

Price of molybdenum products on March 31, 2026

Molybdenum sheet picture

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