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Molybdenum Market - August 3, 2026

Molybdenum market update on August 3, 2026

The overall domestic molybdenum market maintained a relatively strong operation.

With tight raw material supply, stable downstream demand, and rising steel tender prices, suppliers generally had strong willingness to hold back sales and support prices, among which the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide increased by approximately RMB 30/ton-degree, RMB 1,000/ton, and RMB 50/ton-degree, respectively. Recently, steel enterprises that have entered tenders for ferromolybdenum include CITIC Heavy Industries, Jiangyin Xinxing Special Steel, Angang Steel, a steel mill in Shanxi, and a steel mill in Jiangsu, among others, with tender prices at RMB 334,000/ton. According to CTIA GROUP, production cuts and maintenance shutdowns by some molybdenum mining enterprises are the main reason for the limited increase in spot market supply.

In terms of news, data from the World Steel Association shows that in June 2026, global crude steel production from 70 countries/regions included in the World Steel Association statistics was 155.7 million tons, increased by 1.7% year-on-year. Among them, African crude steel production was 2.2 million tons, increased by 20.0% year-on-year; Asian and Oceanian crude steel production was 115.2 million tons, increased by 1.5% year-on-year; EU (27 countries) crude steel production was 10.8 million tons, increased by 4.6% year-on-year; other European countries' crude steel production was 3.7 million tons, increased by 10.4% year-on-year; Middle Eastern crude steel production was 4.0 million tons, decreased by 13.4% year-on-year; North American crude steel production was 9.5 million tons, increased by 5.0% year-on-year; Russian and other CIS countries + Ukraine crude steel production was 6.8 million tons, decreased by 2.2% year-on-year; South American crude steel production was 3.5 million tons, decreased by 0.3% year-on-year.

Price of molybdenum products on August 3, 2026

Image of molybdenum crucible

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