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Molybdenum Market - July 14, 2026

Molybdenum market update on July 14, 2026

The overall domestic molybdenum market showed a high and strengthening trend, with the prices of ferromolybdenum, ammonium tetramolybdate, and molybdenum powder increasing by approximately RMB 2,000/ton, RMB 1,000/ton, and RMB 3/kg, respectively.

Under this market condition, industry participants are mainly focusing on the performance of steel tender prices and volumes, as well as the shipment dynamics of molybdenum mining enterprises.

From the perspective of bullish factors, first, affected by factors such as frequent extreme weather, frequent natural disasters, stricter environmental protection policies, and declining ore grades, the output of some molybdenum mining enterprises has been reduced. Coupled with high geopolitical risks and generally tight funding conditions for molybdenum enterprises, China's imports of molybdenum products are limited, further restraining the increase in spot market supply, resulting in strong willingness among holders to hold back sales and support prices. Second, steel enterprises have successively entered tenders for ferromolybdenum and steel tender prices have risen slightly, which has enhanced market confidence in price increases to a certain extent. Recently, steel enterprises that have entered tenders for ferromolybdenum include Qingshan Holding Group, Shanxi Taigang, Shagang Group, Zhongnan Steel, Baosteel Baoshan, and Hebei Iron and Steel, with tender prices around RMB 328,000/ton.

From the perspective of bearish factors, first, many molybdenum product prices have increased significantly this year, which is not conducive to suppliers raising quotations sharply again. According to CTIA GROUP statistics, since the beginning of this year, the price of molybdenum concentrate has increased by approximately 35.38%, the price of ferromolybdenum has increased by approximately 32.41%, and the price of molybdenum oxide has increased by approximately 34.17%. Second, it is currently the traditional consumption off-season, downstream users have low willingness to inquire and purchase, and market transactions are relatively limited.

In terms of news, data from the China Iron and Steel Association shows that in early July 2026, the social inventory of steel products in five major categories across 21 cities was 9.69 million tons, increased by 340,000 tons month-on-month, up 3.6%, with the inventory increase expanding; increased by 2.48 million tons from the beginning of the year, up 34.4%; increased by 1.94 million tons compared with the same period last year, up 25.0%. Among them, Central China and Northeast China saw slight inventory decreases, Southwest China was the region with the largest increase and the largest rise, Central China was the region with the largest decrease, and Northeast China was the region with the largest decline.

Price of molybdenum products on July 14, 2026

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