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Molybdenum Prices - October 21, 2026

Molybdenum market update on October 21, 2026

China’s molybdenum market as a whole maintained a weak operation, mainly manifested in strong wait-and-see sentiment among traders, no signs of rebound in product prices, and limited new orders.

Today, the prices of molybdenum oxide, ferromolybdenum, and sodium molybdate were around RMB 5,490/mtu, RMB 337,000/ton, and RMB 227,000/ton, respectively.

According to Chinatungsten online, steel enterprises continued to suppress ferromolybdenum procurement prices, coupled with weak confidence in price stability upstream, ferromolybdenum manufacturers lowered their quotations accordingly, forcing molybdenum concentrate prices to weaken; in addition, the poor performance of the international molybdenum market further weakened suppliers' willingness to support prices. However, relying on strong production cost support, stable downstream demand, and good development prospects for downstream industries, the downside room for molybdenum product prices is limited.

In terms of news, data from the National Bureau of Statistics shows that in September 2026, China's crude steel production was 73.59 million tons, increased by 0.1% year-on-year; pig iron production was 65.34 million tons, decreased by 1.4% year-on-year; and steel product production was 118.17 million tons, decreased by 3.8% year-on-year. From January to September, China's crude steel production was 724.77 million tons, decreased by 2.9% year-on-year; pig iron production was 628.44 million tons, decreased by 3.0% year-on-year; and steel product production was 1,067.10 million tons, decreased by 2.0% year-on-year.

Price of molybdenum products on October 21, 2026

Image of molybdenum sheet

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