Weekly Market Summary (Week of October 23th, 2026)-Yuetong Molybdenum

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Weekly Market Summary (Week of October 23th, 2026)

Release time:

2026-10-26

Weekly Market Summary (Week of October 23th, 2026)

On Friday, several steel mills lowered their ferromolybdenum bid prices to CNY322,000- CNY325,600. Molybdenum mining and trading markets were pricing based on demand, with the weighted average price of molybdenum concentrate falling to CNY5,193 per MTU. Quotation levels for ammonium molybdate and molybdenum products continued to decline, with limited transactions.

On Friday, international oxide molybdenum prices slightly declined to USD32.65/lb- USD32.75/lb, equivalent to a Chinese import tax-inclusive cost of approximately CNY5,440- CNY5,457 per MTU.

As of October, the cumulative volume of ferromolybdenum procurement by steel mills has reached about 10,500 tons.

At the end of October, the molybdenum market will focus on changes in steel mills' bidding volumes and prices for ferromolybdenum, as well as some molybdenum mines' shipping plans before month-end.

Raw Materials Segment

This week, molybdenum raw material prices declined without volume. According to statistics, the transaction level for molybdenum concentrate dropped from CNY5,300- CNY5,370 per MTU at the beginning of the week to around CNY5,180 - CNY5,280 per MTU, with sparse trading and cautious purchasing. The weekly price decline reached CNY120 per MTU, a drop exceeding 2.2%.

According to Molychina Network, the total volume of spot transactions for molybdenum concentrate this week was approximately 1,100 tons, with a weighted average price of about CNY5,314 per MTU (based on 45–50% grade cash price).

To date in October, the total volume of spot transactions in the molybdenum concentrate market has exceeded 5,200 tons, with a weighted average price of approximately CNY5,408 per MTU (based on 45-50% grade cash price).

Ferromolybdenum Sector

This week, molybdenum iron prices dropped sharply. Major steel mills have entered the market one after another, gradually lowering their bidding prices. Molybdenum iron prices fell rapidly from CNY335,000 per Ton last week to around CNY325,000 per Ton this week, with local negotiated prices dipping as low as just above CNY320,000 per Ton. Spot trading has virtually halted, and some companies have proactively reduced or suspended production to wait for market developments.

According to statistics from the Molychina Network, this week's total public molybdenum iron tenders by sample steel mills amounted to approximately 1,000 tons (excluding long-term contracts), with a weighted average price of about CNY331,500 per ton (based on 60% benchmark acceptance price).

In October, the total molybdenum iron tenders by sample steel mills reached about 10,300 tons, with a weighted average price of approximately CNY335,400 per ton (based on 60% benchmark acceptance price).

International molybdenum oxide

This week, the international price of molybdenum oxide dropped below the USD33/lb mark. Since it surpassed USD33/lb in early August, the international price of molybdenum oxide has continued to rise until it reached the highest USD34/lb in September. This week, it fell below USD33/lb, and the period above USD33/lb lasted for two and a half months. This Thursday, the price of molybdenum oxide dropped to USD32.7/lb - USD32.8/lb, and the price of European molybdenum iron dropped to USD75.9 - USD75.95/KG.

This week, there was a small amount of transaction for imported molybdenum concentrate in China. An Indonesian steel mill bid for and purchased over 500 tons of molybdenum iron in the Asian market at a price of USD76.55/KG this week.

Based on the current exchange rate, the international price of molybdenum oxide of USD32.7/lb is approximately 4,805 yuan for China's export price and CNY5,452 per MTU for China's import with tax price. The import cost price is higher than that of China. The price of European molybdenum iron of USD75.9/KG is approximately CNY303,500 per Ton for China's export price and CNY348,000 per Ton for China's import with tax price. The import and export windows for molybdenum oxide and molybdenum iron are both closed.

Source: Mudu-MolyChina

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