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Molybdenum Market - July 9, 2026

Molybdenum market update on July 9, 2026

The overall center of gravity of domestic molybdenum prices continued to move up slightly, with the prices of ferromolybdenum and ammonium molybdate both increasing by approximately RMB 1,000/ton.

From the perspective of bullish factors, first, under the conditions of increased mining and production difficulty and continued high energy prices, the production pace of some molybdenum mining enterprises has slowed down, which is conducive to holders maintaining firm quotations. Second, affected by factors such as high geopolitical risks and tight funding conditions for molybdenum-related enterprises, China's imports of molybdenum products are limited, providing phased support for domestic supply; in May this year, China's imports of molybdenum products were 9,820.80 tons, decreased by 16.08% month-on-month, but increased by 97.96% year-on-year.

From the perspective of bearish factors, first, the steel market is lukewarm, which hinders steel enterprises from raising their bids for ferromolybdenum, thus making it difficult for molybdenum product prices to rise; recently, steel tender prices are around RMB 325,000/ton. Second, against the background of currently high molybdenum concentrate prices, downstream users also have strong concerns about high prices, so market inquiry activity is generally moderate; since the beginning of this year, the price of molybdenum concentrate has increased from about RMB 3,900/ton-degree to about RMB 5,260/ton-degree, an increase of 34.87%.

In terms of news, data from the China Iron and Steel Association shows that in late June 2026, key monitored steel enterprises produced a total of 20.24 million tons of crude steel, with an average daily output of 2.024 million tons, decreased by 3.6% month-on-month in daily output. By region, the daily output of crude steel in East China decreased by 36,000 tons, in Southwest China decreased by 23,000 tons, in Central South China decreased by 27,000 tons, in North China increased by 10,000 tons, in Northeast China remained basically flat compared with the previous ten-day period, and in Northwest China remained basically flat compared with the previous ten-day period.

Price of molybdenum products on July 9, 2026

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