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Molybdenum Market - September 2, 2026

Molybdenum market update on September 2, 2026

The overall domestic molybdenum market maintained a sideways operation. Against the background of continuously tight spot supply of raw materials and relatively stable downstream demand, product prices showed no significant fluctuations for the time being, with general trading activity in the market and limited actual transaction volumes.

On the molybdenum concentrate market, overall sentiment of holding back sales and supporting prices was relatively strong, mainly attributable to factors such as the high-temperature flood season, high energy prices, strong environmental protection and anti-illegal-mining efforts, and declining ore grades, which jointly constrained the production capacity release of molybdenum mining enterprises. In addition, the relatively high stability of ferromolybdenum traders' procurement further supported holders' sentiment.

On the ferromolybdenum market, overall performance was relatively weak, with ferromolybdenum prices decreasing by RMB 1,000/ton, mainly due to weakening steel tender prices and the relatively high willingness of intermediate smelting enterprises to exchange price for orders. However, supported by production costs, suppliers had relatively small room for concessions.

On the molybdenum chemical and its products market, the market condition remained stable for the time being. With end customers mostly purchasing on demand and suppliers having low willingness to reduce prices for shipments, the prices of ammonium tetramolybdate and molybdenum powder were consolidating at RMB 327,000/ton and RMB 615/kg, respectively.

In terms of news, data from the World Steel Association shows that in July 2026, global crude steel production from 70 countries/regions included in the World Steel Association statistics was 149.2 million tons, decreased by 0.3% year-on-year. Among them, China's crude steel production was 76.93 million tons, decreased by 3.6% year-on-year; India's crude steel production was 14.4 million tons, increased by 1.9% year-on-year; Japan's crude steel production was 6.9 million tons, increased by 0.4% year-on-year; South Korea's crude steel production was 5.7 million tons, increased by 6.4% year-on-year; and Brazil's crude steel production was 2.8 million tons, increased by 0.1% year-on-year.

Price of molybdenum products on September 2, 2026

Image of molybdenum sheet

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