Molybdenum market update on October 29, 2025
Domestic molybdenum prices overall continue to slide, with prices of molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate decreasing by approximately RMB 20 per ton-unit, RMB 1,000 per ton, and RMB 3,000 per ton, respectively. Under these conditions, industry confidence in future prospects is slightly insufficient, with players closely monitoring steel enterprise bidding dynamics and international molybdenum market trends.
From the perspective of bullish factors, firstly, influenced by tightened environmental policies, declining mine grades, and high production costs, output from many molybdenum mining enterprises has decreased, slowing spot inventory growth; secondly, promising development prospects in molybdenum downstream industries such as military defense and new energy are expected to increase demand for molybdenum products. From the perspective of bearish factors, firstly, amid the persistent subtle decline in molybdenum product prices, traders' "buy on rise, not on fall" mentality has become more pronounced, leading to low market demand; secondly, tight funding and weak international molybdenum market conditions have strengthened steel enterprises' price suppression sentiment for ferromolybdenum.
According to the World Steel Association, in September 2025, crude steel production in 70 countries/regions included in the association's statistics totaled 141.8 million tons, decreased by 1.6% year-on-year. Among these, Africa's crude steel production was 2 million tons, increased by 8.2% year-on-year; Asia and Oceania's crude steel production was 102.9 million tons, decreased by 2.1% year-on-year; the EU (27 countries) crude steel production was 10.1 million tons, decreased by 4.5% year-on-year; other European countries' crude steel production was 3.6 million tons, increased by 1.4% year-on-year; the Middle East's crude steel production was 4.6 million tons, increased by 9.3% year-on-year; North America's crude steel production was 8.8 million tons, increased by 1.8% year-on-year; Russia and other CIS countries plus Ukraine's crude steel production was 6.2 million tons, decreased by 5.3% year-on-year; and South America's crude steel production was 3.5 million tons, decreased by 2.7% year-on-year.
Price of molybdenum products on October 29, 2025
Molybdenum crucible picture
