Steel Tender Price Center Moved Up, Molybdenum Market Consolidated on a Strong Note [SMM Molybdenum Daily Review]

Published: Aug 13, 2026 16:27

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[SMM Molybdenum Daily Review: Steel Tender Center Moves Up, Molybdenum Market Consolidates on a Strong Note]

SMM, August 13:

The molybdenum concentrate market consolidated on a strong note today. A molybdenum mine in Jiangxi sold 448 mt of 40-45% molybdenum concentrate (Cu: average 4.27%, P: average 0.08%) via offline tender yesterday, with an auction starting price of 5,360 yuan/mtu and a bid opening price of 5,375 yuan/mtu (including 65% acceptance); the total transaction volume has yet to be counted. Spot order transactions in the market were firm, with the transaction center for 45% molybdenum concentrate in the 5,340-5,370 yuan/mtu range; some high-grade ore was traded at prices above 5,400 yuan/mtu.

Ferromolybdenum market: Steel mill tender prices for ferromolybdenum edged up slightly today. Tender prices from steel mills in Jiangsu, Shaanxi, and other regions were 335,000-337,000 yuan/mt. Smelters faced considerable cost pressure, with quotes concentrated at 338,000-340,000 yuan/mt, while the transaction center for spot orders tilted toward the high-end range. In the downstream stainless steel market, transactions were mediocre; end-users were still in a minor off-season. Mainstream stainless steel mills maintained steady quotes, and procurement was mainly based on just-in-time needs. Most steel mills that entered the market for procurement recently were special steel mills.

Overall, molybdenum concentrate producers in Henan maintained production cuts recently, and China's molybdenum concentrate market maintained a supply tightening trend. Overseas resources such as those from Chile consolidated at highs, and high import costs for molybdenum concentrate and molybdenum oxide lent some support to domestic spot prices of molybdenum raw materials. Although downstream stainless steel and special steel enterprises were still in the off-season, ferromolybdenum tender deliveries were mostly scheduled for September production arrangements. In the short term, molybdenum concentrate prices are more likely to rise than fall, supported by supply contraction. Ferromolybdenum prices gradually moved closer to cost levels following steel mill tenders, but actual consumption by downstream end-users has not yet fully materialized, limiting upward elasticity. Going forward, key areas to monitor include the production resumption progress at Henan mines, tender and transaction conditions at domestic mines, ferromolybdenum tender volumes and prices from steel mills, and output disruptions at overseas copper-molybdenum mines.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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