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Molybdenum Market - April 21, 2026

Molybdenum market update on April 21, 2026

The domestic molybdenum market remains stable at a high level. With continuous price negotiations between buyers and sellers, most product prices are relatively stable, and market activity is moderate, with new orders remaining acceptable.

Today, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum powder are approximately RMB 4,580 per ton-degree, RMB 293,000 per ton, and RMB 545 per kilogram, respectively.

In the molybdenum concentrate market, there is a strong "wait-and-see" sentiment, primarily due to strong cost support, stable downstream demand, and the current tightening of market spot supply. Additionally, external geopolitical risks still exist, and traders’ risk-aversion sentiment has increased, further supporting the price-holding attitude of stockholders. Against this backdrop, industry players expect prices to rise in the short term, with a low likelihood of a decline.

In the ferromolybdenum market, the overall market remains stable with a slightly stronger trend. Steel enterprises are gradually conducting procurement tenders, and with the increasing difficulty of purchasing low-priced molybdenum concentrate, intermediate smelting enterprises have a low willingness to lower prices. However, due to the limited upward movement of steel tender prices, ferromolybdenum manufacturers lack the motivation to raise prices significantly. Recently, the steel tender price for ferromolybdenum is approximately RMB 289,000 per ton.

In the molybdenum chemical products and their market, the prices of molybdenum concentrate and ferromolybdenum are running at relatively high levels, with cost pressure significantly transferring to the molybdenum chemical sector. Stockholders' pricing decisions are somewhat passive. Additionally, traditional demand remains generally flat, with steady but limited growth in the essential demand from sectors such as catalysts, pigments, and metallurgical additives.

In terms of news, according to the monitoring of the Steel Association, in March, China’s Steel Price Index (CSPI) averaged 91.58 points, increasing by 0.85 points from the previous month, an increase of 0.93%. It decreased by 3.09 points year-on-year, a decrease of 3.26%. Among them, the CSPI long products index averaged 93.84 points, increasing by 0.72 points from the previous month, an increase of 0.77%; it decreased by 2.35 points year-on-year, a decrease of 2.44%. The plate products index averaged 89.56 points, increasing by 0.77 points from the previous month, an increase of 0.87%; it decreased by 3.58 points year-on-year, a decrease of 3.84%. As of the end of March 2026, the CSPI was 92.30 points, increasing by 1.72 points from the previous month, an increase of 1.90%; it increased by 0.43 points from the end of the previous year, an increase of 0.47%; it decreased by 2.56 points year-on-year, a decrease of 2.70%.

Price of molybdenum products on April 21, 2026

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