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Molybdenum Market - October 9, 2026

Molybdenum market update on October 9, 2026

The domestic molybdenum market as a whole maintained a sideways operation. Affected by the just-concluded Mid-Autumn Festival holiday, traders had low enthusiasm for entering the market, causing product prices to fluctuate within a narrow range and actual transaction volumes to be limited.

Today, the transaction prices of molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate were around RMB 5,480/ton-degree, RMB 343,000/ton, and RMB 333,000/ton, respectively.

From the supply side, affected by factors such as the National Day holiday, stricter environmental protection policies, declining ore grades, and high energy prices, the output of some molybdenum mining enterprises has been reduced. Coupled with relatively high overseas molybdenum prices and high geopolitical risks, China's imports of molybdenum products have been suppressed, further tightening the supply of molybdenum raw materials.

From the demand side, short-term market demand is relatively weak, mainly attributable to the fact that some downstream users have not yet resumed their normal procurement pace. However, in the long term, the downstream molybdenum industry is developing favorably, and is expected to drive growth in demand for molybdenum products.

In terms of news, data from the China Iron and Steel Association shows that in late September 2026, the social inventory of steel products in five major categories across 21 cities was 9.14 million tons, decreased by 180,000 tons month-on-month, down 1.9%; increased by 1.93 million tons from the beginning of the year, up 26.8%; increased by 120,000 tons compared with the same period last year, up 1.3%. Among them, East China was the region with the largest decrease and the largest decline in steel product social inventory, Northwest China was the region with the largest increase and the largest rise, and Northeast China saw a flat month-on-month inventory.

Price of molybdenum products on October 9, 2026

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