Molybdenum market update on November 26, 2025
The domestic molybdenum market overall continued to show a weak downward trend, with prices for molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate decreasing by approximately RMB 50 per ton-degree, RMB 6,000 per ton, and RMB 4,000 per ton, respectively. Under this market situation, the enthusiasm of downstream users for inquiries and procurement is fairly good; as of now, the total volume of ferromolybdenum procured through steel tenders in November has exceeded 10,000 tons. Currently, industry participants are primarily focused on the sales pace of molybdenum mining enterprises and the price trends in the international molybdenum market.
In the molybdenum concentrate market, influenced by strong price suppression sentiment and low procurement willingness from downstream sectors, coupled with the continuous decline in international molybdenum prices, product offers have seen significant reductions. However, supported by production costs, mainstream suppliers have low willingness to sell, although a few suppliers show higher initiative to sell in order to alleviate financial pressure.
In the ferromolybdenum market, the overall trend is under pressure and downward, mainly attributable to lower steel tender prices and insufficient support from production costs for product prices. Recently, steel companies such as Oriental Special Steel, Shougang Group, Wuhan Iron and Steel, Zhejiang Dongte, Xinxing Ductile Iron Pipes, and Changshu Longteng have entered the market to tender for ferromolybdenum, with tender prices around RMB 232,000 per ton.
In the molybdenum chemical and products market, the atmosphere is dominated by wait-and-see sentiment. Against the backdrop of terminal customers largely maintaining rigid demand and suppliers having a strong inclination to hold back sales, product prices mainly followed the upstream market fluctuations, showing a downward adjustment trend.
In terms of news, data from the China Iron and Steel Association shows that in October 2025, the production of medium and heavy plate mills, hot continuous rolling mills, and cold continuous rolling mills in key statistical enterprises all increased year-on-year, with a significant increase for medium and heavy plate mills. Specifically, medium and heavy plate mills produced 6.62 million tons, an increase of 9.2% year-on-year; cumulative production reached 63.95 million tons, an increase of 3.7% year-on-year. Hot continuous rolling mills produced 16.65 million tons, an increase of 4.2% year-on-year; cumulative production reached 161.19 million tons, an increase of 1.0% year-on-year. Cold continuous rolling mills produced 6.99 million tons, an increase of 2.0% year-on-year; cumulative production reached 67.36 million tons, an increase of 0.5% year-on-year.
Price of molybdenum products on November 26, 2025
Images of molybdenum bar
