Molybdenum market update on November 6, 2025
Domestic molybdenum and tungsten prices have taken clearly divergent paths: molybdenum prices continue to fall while tungsten prices surge. Since mid-to-late September, molybdenum concentrate prices have dropped approximately 12.36%, ferromolybdenum prices approximately 11.82%, molybdenum oxide prices approximately 11.51%, sodium molybdate prices approximately 12.14%, ammonium tetramolybdate prices approximately 9.78%, ammonium heptamolybdate prices approximately 9.29%, molybdenum powder prices approximately 8.27%, and molybdenum bar prices approximately 8.00%.
According to CTIA, the main reasons for the recent sharp molybdenum price correction are:
Weak steel market conditions create major resistance to cost pass-through—steel mills struggle to shift upstream cost pressure to downstream users and, to avoid inverted cost-profit margins, universally cut ferromolybdenum procurement prices, dragging the entire molybdenum market lower;
Persistent declines in international molybdenum prices exert a transmission effect on the domestic market, intensifying downward pressure;
In an overall sluggish trading atmosphere, most suppliers show strong willingness to cut prices and move goods. Worth noting, however, slower production rhythms at some molybdenum manufacturers and robust development in downstream molybdenum-consuming sectors provide certain support for molybdenum prices to stabilise going forward.
On the news front, CISA data show that in late October 2025, steel inventory at key statistical enterprises stood at 14.63 million tonnes—down 11.8% from the previous ten-day period, up 18.3% from the start of the year, down 0.3% from the same ten-day period last month, up 7.3% year-on-year, and up 6.3% from two years ago. By region: Northeast inventory fell 430 kt, North China fell 230 kt, East China fell 650 kt, Northwest fell 110 kt, Southwest fell 30 kt, and Central-South fell 500 kt.
Price of molybdenum products on November 6, 2025
Molybdenum copper sheet picture
