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Molybdenum Prices - November 10, 2026

Molybdenum market update on November 10, 2026

China's molybdenum market as a whole maintained a sideways operation. Under the interweaving of bullish and bearish factors, price negotiations between buyers and sellers were intense, price increases for most products slowed, and actual transactions were flat.

From the perspective of bullish factors: first, the continuous warming of the international molybdenum market has, to a certain extent, boosted domestic suppliers' confidence in raising prices; today, international molybdenum oxide and European ferromolybdenum prices rose to USD 34.5/lb Mo and USD 80.1/kg Mo, respectively. Second, affected by factors such as stricter environmental protection and anti-illegal-mining policies, falling temperatures, and relatively high energy prices, the production of some molybdenum mining enterprises has been restricted, resulting in limited increments in spot supply of raw materials and strong market sentiment of holding back sales and supporting prices.

From the perspective of bearish factors: first, as molybdenum prices fluctuate upward, downstream users' willingness to inquire and purchase has gradually declined; second, tight working capital at downstream molybdenum production enterprises has affected the growth rate of market orders. Up to now, in November, the price of molybdenum concentrate has increased by RMB 150/mtu, up 2.91%; and the price of ferromolybdenum has increased by RMB 9,000/ton, up 2.74%. 

In terms of news, data from the China Iron and Steel Association shows that in late October 2026, key monitored steel enterprises produced a total of 19.36 million tons of crude steel, with an average daily output of 1.760 million tons, decreased by 7.0% month-on-month in daily output; produced 17.80 million tons of pig iron, with an average daily output of 1.618 million tons, decreased by 6.3% month-on-month in daily output; and produced 20.81 million tons of steel products, with an average daily output of 1.891 million tons, increased by 3.6% month-on-month in daily output. Based on this estimate, the national daily crude steel output for this ten-day period was 2.26 million tons, decreased by 7.0% month-on-month; daily pig iron output was 1.99 million tons, decreased by 6.3% month-on-month; and daily steel product output was 3.76 million tons, increased by 1.1% month-on-month.

Price of molybdenum products on November 10, 2026

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