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Molybdenum Market - September 22, 2026

Molybdenum market update on September 22, 2026

The overall domestic molybdenum market performed generally, mainly manifested in relatively large resistance to further price increases, low enthusiasm for traders to enter the market, and limited actual transactions.

Against this background, industry participants are mainly focusing on downstream users' inquiry and purchasing dynamics as the Mid-Autumn Festival and National Day holidays approach.

On the molybdenum concentrate market, wait-and-see sentiment was relatively strong, mainly attributable to downstream maintaining rigid demand and tightening spot market supply. Currently, the transaction price of molybdenum concentrate was around RMB 5,490/ton-degree.

On the ferromolybdenum market, overall operations were under pressure. With limited room for concessions from molybdenum mining enterprises and continuous downward pressure on ferromolybdenum procurement prices from steel enterprises, intermediate smelting enterprises faced difficulties in quoting, with quotations at RMB 345,000/ton. Recently, steel enterprises that have entered tenders for ferromolybdenum include Zhongnan Steel, Shangang Rizhao, Jiangyin Xinxing, Hebei Iron and Steel, Xinjiang Bayi Iron and Steel, among others.

On the molybdenum chemical and its products market, overall operations maintained stable. Affected by weak supply and demand and insufficient driving effect from the upstream market, the prices of sodium molybdate, ammonium heptamolybdate, and molybdenum powder were adjusted at around RMB 233,000/ton, RMB 333,000/ton, and RMB 615/kg, respectively.

In terms of news, data from the National Bureau of Statistics shows that from January to August 2026, China's crude steel production was 651.85 million tons, decreased by 3.1% year-on-year; pig iron production was 563.40 million tons, decreased by 3.1% year-on-year; and steel product production was 950.75 million tons, decreased by 1.7% year-on-year. Among which, in August, China's crude steel production was 74.61 million tons, decreased by 3.7% year-on-year; pig iron production was 67.65 million tons, decreased by 3.5% year-on-year; and steel product production was 114.75 million tons, decreased by 5.5% year-on-year.

Price of molybdenum products on September 22, 2026

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