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Molybdenum Products Price Trend in China in the First Quarter of 2026

I. Molybdenum Price Trend Analysis in China in the First Quarter of 2026

According to CTIA GROUP LTD, the price trend of molybdenum products in China in the first quarter of 2026 was characterized by an initial bottoming, followed by a strong rally, and then consolidation at high levels.

By the end of March, prices were significantly higher than at the beginning of January. In the first quarter, the price of molybdenum concentrate increased from approximately RMB 3,900 per ton-degree to around RMB 4,420 per ton-degree, an increase of 13.33%; the price of ferromolybdenum increased from approximately RMB 253,000 per ton to around RMB 281,000 per ton, an increase of 11.07%; the price of molybdenum oxide increased from approximately RMB 3,980 per ton-degree to around RMB 4,520 per ton-degree, an increase of 13.57%; the price of sodium molybdate increased from approximately RMB 177,000 per ton to around RMB 202,000 per ton, an increase of 14.12%; the price of ammonium molybdate increased from approximately RMB 237,000 per ton to around RMB 279,000 per ton, an increase of 17.72%; the price of heptamolybdate increased from approximately RMB 242,000 per ton to around RMB 283,000 per ton, an increase of 16.94%; the price of molybdenum powder increased from approximately RMB 455 per kilogram to around RMB 536 per kilogram, an increase of 17.80%; the price of molybdenum rods increased from approximately RMB 457 per kilogram to around RMB 538 per kilogram, an increase of 17.72%.

From January to March, although the price increase was significant, the highest price for many products still did not exceed the highest points of 2025. For example, for molybdenum concentrate and ferromolybdenum, from January to March, the highest price of molybdenum concentrate was RMB 4,460 per ton-degree, which was RMB 150 per ton-degree lower than the highest price in 2025 of RMB 4,610 per ton-degree; the lowest price was RMB 3,900 per ton-degree, which was RMB 650 per ton-degree higher than the lowest price in 2025 of RMB 3,250 per ton-degree; the difference between the highest and lowest prices was RMB 560 per ton-degree. From January to March, the highest price of ferromolybdenum was RMB 287,000 per ton, which was RMB 9,000 per ton lower than the highest price in 2025 of RMB 296,000 per ton; the lowest price was RMB 253,000 per ton, which was RMB 45,000 per ton higher than the lowest price in 2025 of RMB 208,000 per ton; the difference between the highest and lowest prices was RMB 34,000 per ton.

In January, driven by increased downstream demand, higher steel tender prices, and price increases from major molybdenum mines, the molybdenum price rose sharply at the beginning of the month, entering a phase of consolidation from mid-month to the end of the month. In February, molybdenum prices showed a faster rising trend, mainly supported by reduced output from some molybdenum producers, stable downstream demand, and significant price hikes from mining companies. In March, although the total amount of steel tenders was higher than in January and February, the strong price increase in the previous two months led to stronger price resistance from the downstream, and with limited bullish support, suppliers lacked strong incentives to raise prices.

Regarding steel tenders, the total amount of ferromolybdenum tendered in the first quarter of 2026 was approximately 36,800 tons, a decrease of 5.64% compared to the first quarter of 2025 and a decrease of 1.34% compared to the first quarter of 2024.

II. Average Prices of Molybdenum Products in the First Quarter of 2026

In the first quarter of 2026, the average prices of most molybdenum products in China increased both month-on-month and year-on-year. Among them, the average price of molybdenum concentrate was RMB 4,238 per ton-degree, increasing by 6.94% month-on-month and 20.57% year-on-year; the average price of ferromolybdenum was RMB 273,034 per ton, increasing by 7.25% month-on-month and 19.72% year-on-year; the average price of molybdenum oxide was RMB 4,327 per ton-degree, increasing by 6.39% month-on-month and 19.46% year-on-year; the average price of sodium molybdate was RMB 192,534 per ton, increasing by 6.81% month-on-month and 18.58% year-on-year; the average price of ammonium molybdate was RMB 263,448 per ton, increasing by 7.04% month-on-month and 18.67% year-on-year; the average price of heptamolybdate was RMB 267,879 per ton, increasing by 6.96% month-on-month and 18.65% year-on-year; the average price of molybdenum powder was RMB 507 per kilogram, increasing by 7.87% month-on-month and 21.00% year-on-year; the average price of molybdenum rods was RMB 509 per kilogram, increasing by 7.16% month-on-month and 11.87% year-on-year.

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