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Molybdenum Market - September 8, 2026

Molybdenum market update on September 8, 2026

The domestic molybdenum market as a whole maintained a stalemate operation. Against the background of a relatively balanced supply-demand pattern, mainstream product prices showed no significant changes for the time being, and actual transaction pace was slow. Today, the transaction price of molybdenum concentrate was basically below RMB 5,440/ton-degree.

From the supply side, first, affected by factors such as heavy rainfall in many regions, stricter environmental supervision, and widespread aging of molybdenum mines, the production of some molybdenum mining enterprises is restricted, which is conducive to holders maintaining firm prices; second, affected by the El Niño phenomenon and relatively large external geopolitical risks, China's imports of molybdenum products are limited. Frequent heavy rains and flood disasters have disrupted production at some mines in Chile and Peru, possibly affecting the exports of molybdenum products from these two countries.

Chile and Peru are both countries with relatively large molybdenum reserves and production in the world. Data from the United States Geological Survey shows that by the end of 2025, Chile's molybdenum reserves were 2,600 thousand tons, increased by 85.71% year-on-year, accounting for 15.29% of global reserves; Peru's molybdenum reserves were 1,000 thousand tons, decreased by approximately 47.37% year-on-year. In 2025, Chile's molybdenum production was approximately 42,000 tons, increased by 10.53% year-on-year, accounting for 16.15% of global production; Peru's molybdenum production was 39,000 tons, decreased by approximately 4.88% year-on-year.

From the demand side, in the short term, affected by the relatively high prices of molybdenum products and tight working capital for downstream production enterprises, market demand is relatively weak; however, in the long term, market demand for molybdenum products is expected to increase, mainly attributable to the good development trends in emerging industries and high-end manufacturing.

In terms of news, data from the China Iron and Steel Association shows that in late August 2026, key monitored steel enterprises produced a total of 20.74 million tons of crude steel, with an average daily output of 1.885 million tons, decreased by 4.0% month-on-month in daily output; produced 19.41 million tons of pig iron, with an average daily output of 1.765 million tons, decreased by 3.0% month-on-month in daily output; and produced 22.09 million tons of steel products, with an average daily output of 2.008 million tons, increased by 4.8% month-on-month in daily output. Based on this estimate, the national daily crude steel output for this ten-day period was 2.39 million tons, decreased by 4.0% month-on-month; daily pig iron output was 2.14 million tons, decreased by 3.0% month-on-month; and daily steel product output was 3.83 million tons, increased by 2.0% month-on-month.

Price of molybdenum products on September 8, 2026

Image of molybdenum sheet

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