Molybdenum market update on November 4, 2025
Domestic molybdenum prices continue their subtle downtrend, with molybdenum concentrate, ferromolybdenum and ammonium heptamolybdate falling another RMB 20 per ton-unit, RMB 3,000 per ton and RMB 2,000 per ton respectively. Traders remain cautious and mostly on the sidelines, resulting in tepid market activity and thin transaction volumes.
The molybdenum concentrate market stays weak, dragged by soft downstream demand, lackluster international prices and growing supplier worries about the outlook. Still, robust production costs and limited spot availability leave little room for further price cuts.
On the ferromolybdenum side, steel mills keep squeezing bids while raw-material costs slide, forcing most smelters to lower offers. Worth noting: some mid-stream producers have voluntarily cut output, lending the price a modest floor.
In molybdenum chemicals and downstream products, end-users stick to just-in-time buying, but the ripple from cheaper feedstocks is unmistakable—both molybdate salts and molybdenum powder have softened.
CISA reports that late-October social inventories of the five major steel products across 21 cities stood at 9.05 million tons, down 3.3% MoM yet up 37.3% from year-start and up 29.3% YoY. Regionally, only Central China and Northwest bucked the decline; South China shed the most tonnage while Northeast posted the steepest percentage drop. By variety, hot-rolled coil was the lone riser MoM; rebar led the MoM drop in both volume and rate, yet remains the biggest YoY gainer.
Price of molybdenum products on November 4, 2025
Molybdenum alloy picture
