I. Analysis of China Molybdenum Price Trends in November 2025
According to CTIA GROUP LTD, in November 2025, the price trends of molybdenum products in China were oscillating downward, though molybdenum raw material prices experienced a brief slight rebound in mid-month. In November, molybdenum concentrate prices decreased by approximately 14.72%, ferromolybdenum prices decreased by approximately 13.33%, molybdenum oxide prices decreased by approximately 14.58%, sodium molybdate prices decreased by approximately 9.52%, ammonium tetramolybdate prices decreased by approximately 10.73%, ammonium heptamolybdate prices decreased by approximately 11.28%, molybdenum powder prices decreased by approximately 8.57%, and molybdenum bar prices decreased by approximately 8.48%.
From a short-term perspective, this molybdenum price decline was mainly influenced by the following factors: first, the international molybdenum market performed poorly, exerting transmission pressure on the domestic market; second, as the core application field of molybdenum, the oscillating downward trend in steel bidding prices significantly weakened market expectations for price stability in other molybdenum products; third, current production costs failed to provide effective support for molybdenum prices, making it difficult to prevent the price decline; fourth, traders generally exhibited a "buy on rise, not on fall" trading mentality, further intensifying the market price pullback trend.
From a long-term perspective, the main reason for the molybdenum price decline is that the previous molybdenum price increase lasted longer and had a larger magnitude, leaving space for subsequent price correction. However, it is worth noting that compared with this year's low point, the current molybdenum prices remain at relatively high levels. From mid-April to mid-to-late September, molybdenum concentrate prices increased by approximately 41.85%, ferromolybdenum prices increased by approximately 42.31%, molybdenum oxide prices increased by approximately 39.17%, sodium molybdate prices increased by approximately 33.77%, ammonium tetramolybdate prices increased by approximately 30.19%, ammonium heptamolybdate prices increased by approximately 29.63%, molybdenum powder prices increased by approximately 30.65%, and molybdenum bar prices increased by approximately 20.69%.
2. Average Prices of Molybdenum Products in November 2025
In November, the average prices of most molybdenum products in China decreased month-on-month but increased year-on-year. The average price of molybdenum concentrate was RMB 3,860 per tonne-degree, decreased by 12.43% month-on-month, increased by 3.54% year-on-year; ferromolybdenum RMB 249,100 per ton, decreased by 10.93% month-on-month, increased by 3.36% year-on-year; molybdenum oxide RMB 3,972 per tonne-degree, decreased by 11.95% month-on-month, increased by 3.87% year-on-year; sodium molybdate RMB 176,700 per ton, decreased by 8.97% month-on-month, increased by 4.85% year-on-year; ammonium tetramolybdate RMB 241,300 per ton, decreased by 9.83% month-on-month, increased by 5.13% year-on-year; ammonium heptamolybdate RMB 246,000 per ton, decreased by 9.54% month-on-month, increased by 5.34% year-on-year; molybdenum powder RMB 465 per kilogram, decreased by 7.19% month-on-month, increased by 7.14% year-on-year; molybdenum bar RMB 471 per kilogram, decreased by 6.92% month-on-month, increased by 1.29% year-on-year.
From January to November, the prices of most molybdenum products in China increased year-on-year. The average price of molybdenum concentrate was RMB 3,869 per tonne-degree, increased by 7.17% year-on-year; ferromolybdenum RMB 249,058 per ton, increased by 5.85% year-on-year; molybdenum oxide RMB 3,975 per tonne-degree, increased by 7.37% year-on-year; sodium molybdate RMB 175,758 per ton, increased by 5.64% year-on-year; ammonium tetramolybdate RMB 238,937 per ton, increased by 5.56% year-on-year; ammonium heptamolybdate RMB 243,126 per ton, increased by 5.65% year-on-year; molybdenum powder RMB 450 per kilogram, increased by 2.51% year-on-year; molybdenum bar RMB 474 per kilogram, increased by 1.50% year-on-year.
