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Molybdenum Market - September 29, 2026

Molybdenum market update on September 29, 2026

The overall domestic molybdenum market maintained a sideways operation. Under the mutual influence of bullish and bearish factors, traders' mindsets were flat, product prices showed no significant changes for the time being, and transactions were limited.

Against this background, industry participants are mainly focusing on the performance of overseas molybdenum prices during the National Day holiday and the operating sentiment of domestic traders after the holiday. Today, the prices of molybdenum oxide, ferromolybdenum, and molybdenum powder were approximately RMB 5,600/ton-degree, RMB 344,000/ton, and RMB 615/kg, respectively.

From the perspective of bullish factors, first, continuously tight spot market supply, coupled with strong cost support, has weakened suppliers' willingness to reduce prices for shipments; second, steel enterprises have successively entered tenders for ferromolybdenum, which to a certain extent boosted the confidence of intermediate smelting enterprises in maintaining firm quotations. According to CTIA GROUP, steel enterprises such as China First Heavy Industries, Hunan Valin Hengyang Steel, Shougang Jingtang, and Fushun Special Steel have all participated in ferromolybdenum tenders.

From the perspective of bearish factors, first, affected by the many uncertainties during the National Day holiday, downstream users are relatively cautious in consumption; second, the current relatively high prices of molybdenum products within the year have reduced downstream enterprises' purchasing willingness.

In terms of news, data from the China Iron and Steel Association shows that in mid-September 2026, the steel product inventory of key monitored steel enterprises was 17.08 million tons, increased by 560,000 tons compared with the previous ten-day period, up 3.4%; increased by 2.94 million tons compared with the beginning of the year, up 20.8%; decreased by 1.25 million tons compared with the same ten-day period of the previous month, down 6.8%; increased by 1.79 million tons compared with the same ten-day period of last year, up 11.7%; increased by 1.43 million tons compared with the same ten-day period of the year before last, up 9.1%. By region, steel product inventory in Northeast China increased by 260,000 tons, in North China increased by 40,000 tons, in East China increased by 60,000 tons, in Northwest China increased by 20,000 tons, in Southwest China increased by 10,000 tons, and in Central South China increased by 170,000 tons.

Price of molybdenum products on September 29, 2026

Image of molybdenum crucible

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