【Flash | UK Expands Iran-Related Controls on Molybdenum Products】

Elmet Technologies has been awarded an approximately $36 million contract by the US Defense Logistics Agency to supply the National Defense Stockpile with titanium-zirconium-molybdenum alloy billets, bars and ingots, as well as specialised molybdenum and tungsten wire. The materials are intended for jet-engine components and other high-temperature aerospace applications. Elmet did not disclose delivery volumes, contract duration or the value split between molybdenum and tungsten products. SMM analysis: The award confirms US defence-sector procurement demand for high-performance molybdenum materials, but cannot yet be translated into additional molybdenum consumption due to the absence of physical volumes.

Eaton Steel Bar Company released its October 2026 scrap and alloy surcharge schedule, raising the molybdenum component across all listed molybdenum-bearing grades. The moly surcharge for the 4000 series increased from US$9.49/cwt to US$9.77/cwt, equivalent to approximately US$209.22/t to US$215.39/t of steel. The 4600 series rose from US$15.18/cwt to US$15.64/cwt, while the 9260 grade increased from US$3.64/cwt to US$3.81/cwt. The gains ranged from about 3.0% to 4.7%. The scrap surcharge remained unchanged at US$14.50/cwt. SMM analysis: the October increase mainly came from alloy components, although the surcharge should not be treated as a direct molybdenum spot-price indicator.

Nucor (NYSE:NUE) issued quarterly guidance pointing to stronger earnings alongside rising product costs, as firmer steel prices met higher input costs. Steel mills and steel products improved while raw materials softened, underscoring the differing pace across three arms that turn recycled scrap into steel via electric-arc furnaces nationwide. Scrap, energy and alloying costs feed cash costs directly, trimming part of the gain from firmer selling prices. Cooler inflation eased expectations of further rate hikes and the S&P 500 edged higher in early October, though trade measures on imported steel remain unsettled. The stock traded at 235.98 USD, up 2.23 USD, or 0.954%. Nucor keeps expanding and upgrading mills to lift capacity; results later this month will test pricing and costs.