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Molybdenum Market - May 20, 2026

Molybdenum market update on May 20, 2026

China's domestic molybdenum prices continue to correct downward from high levels overall, among which the prices of molybdenum concentrate and ferromolybdenum decreased by another RMB 20 per ton-degree and RMB 2,000 per ton respectively.

In the molybdenum concentrate market, trading sentiment remains tepid, mainly due to fewer downstream inquiries compared with last week and low initiative of suppliers in cargo delivery. Despite the recent fluctuating decline in molybdenum concentrate prices, they are still at a relatively high level compared with those before the May Day holiday, which weakens purchasers' willingness to buy. In addition, the international molybdenum market stays sluggish, further slowing down the growth rate of market demand.

In the ferromolybdenum market, market wait-and-see sentiment has intensified. Affected by the cooling molybdenum concentrate market and stable volume and price performance of steel enterprise tenders, ferromolybdenum manufacturers mainly meet rigid demand. Recently, steel enterprises participating in ferromolybdenum bidding include Angang Steel Company Limited, Hengyang Valin Steel Tube Co., Ltd., Jiangsu Nanjing Iron & Steel Co., Ltd., Fushun Special Steel Co., Ltd. and Jiangsu Shagang Group, with the tender price standing at around RMB 320,000 per ton.

In the market of molybdenum chemicals and related products, against the backdrop of relatively balanced supply and demand, product prices adjust synchronously following the price trend of upstream raw materials. Today, the prices of sodium molybdate, ammonium heptamolybdate and molybdenum powder have decreased to RMB 231,000 per ton, RMB 319,000 per ton and RMB 608 per kilogram respectively.

In terms of news, data released by the China Iron and Steel Association shows that China's crude steel output reached 83.63 million tons in April 2026, decreased by 2.8% year on year. Pig iron output stood at 70.69 million tons, decreased by 3.6% year on year. Steel products output was 122.63 million tons, decreased by 1.7% year on year. From January to April, China's crude steel output totaled 331.12 million tons, decreased by 4.1% year on year. Pig iron output amounted to 282.28 million tons, decreased by 3.1% year on year. Steel products output hit 471.94 million tons, decreased by 1.3% year on year.

Price of molybdenum products on May 20, 2026

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