Overseas Molybdenum Market Rises Along with Increased Stocking Demand from Domestic Steel Mills, Molybdenum Market Advances [SMM Molybdenum Daily Review]

Published: Feb 4, 2026 17:49

Save

[ SMM Molybdenum Daily Review: Overseas Molybdenum Market Rose, Coupled With Increased Stocking Demand From Domestic Steel Mills, Molybdenum Market Increased ] SMM February 4 News: Today, the domestic molybdenum market rebounded slightly. The international molybdenum oxide market held up well, boosting domestic market sentiment. On February 3, a mine in Yunnan auctioned molybdenum concentrate, with the final transaction price rising to 4,115 yuan/mtu, driving up the center of spot order negotiations in the domestic market. Today, prices of major domestic molybdenum products, including molybdenum concentrate, ferromolybdenum, and molybdenum chemicals, generally rose, and market trading sentiment was active.

SMM February 4:

China's domestic molybdenum market rebounded slightly today. The international molybdenum oxide market held up well, boosting domestic market sentiment. On February 3, a mine in Yunnan auctioned molybdenum concentrate, with the final transaction price rising to 4,115 yuan/mtu. This drove up the negotiation center for domestic spot orders. Today, prices for major domestic molybdenum products, including molybdenum concentrate, ferromolybdenum, and molybdenum chemicals, generally rose, with active market trading.

Driven by the linked increase in the international molybdenum market, domestic raw material suppliers showed significantly stronger willingness to hold prices firm. The daily average prices for molybdenum concentrate (≥45%, ≥50%) rose by 70 yuan/mtu, reaching 4,115 yuan/mtu and 4,145 yuan/mtu, respectively. High raw material procurement costs directly supported ferromolybdenum offers. The daily average price for ferromolybdenum (60%≤Mo≤65%) increased by 1,500 yuan/mt, reaching 262,500 yuan/mt. Today, the mainstream tender price range for ferromolybdenum was 260,000-263,000 yuan/mt, slightly higher than the previous trading day. Approaching the Chinese New Year, concentrated restocking demand from steel mills continued to be released, resonating with tight raw material supply and pushing the tender center steadily upward. Today, ferromolybdenum tender prices from steel mills in Hunan and Northeast China were concentrated in the range of 263,000-263,800 yuan/mt. Suppliers held offers firm, with mainstream offers already moving above 265,000 yuan/mt.

In the chemical products segment, most prices followed the increase, but overall transactions remained mediocre. The daily average prices for ammonium molybdate and ammonium heptamolybdate both rose by 2,000 yuan/mt, reaching 256,000 yuan/mt and 260,000 yuan/mt, respectively.

Market participants currently hold optimistic expectations for the future. Supported by costs, released rigid demand, and international linkage, the molybdenum market is expected to continue its strong performance in the short term, with prices likely to fluctuate upward.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

US Department of National Defense Invests in Canadian Company to Expand Germanium Refining Capacity

4 hours ago

13 hours ago

The Magnesium Market Is Under Pressure Across the Board, with Tightening Raw Material Supply and Sluggish Demand Interwoven [SMM Magnesium Morning Meeting Minutes]

[SMM Magnesium Morning Conference Notes: Magnesium Market Under Pressure Amid Tight Raw Material Supply and Sluggish Demand] February 4, cost side, dolomite supply tightened as leading producers in Wutai suspended production, with prices expected to hold up well; ferrosilicon futures dropped slightly, while spot transactions remained neutral, with downstream users mainly making just-in-time procurement. The magnesium ingot market continued its weakness, with offers in Fugu County lowered to 16,400-16,500 yuan/mt, sluggish transactions, and strong wait-and-see sentiment among downstream users. Foreign trade was mainly focused on fulfilling previous orders, with few new orders. The benchmark price of magnesium alloy was under pressure due to declining magnesium ingot prices on the cost side, but processing fees held steady. As the Chinese New Year approached, some end-users began holidays, leading to a slight decrease in orders, with the market maintaining a tight balance. The magnesium powder market remained generally stable, though the center shifted slightly downward due to falling raw material prices. On the demand side, domestic trade involved purchasing as needed, while foreign trade saw limited new orders. Overall, the magnesium industry chain faced partial supply tightness providing support in the short term, but sluggish demand remained the core factor driving price trends, with the market expected to stay in the doldrums.

13 hours ago

Rumor has it that a major plant in East China successfully sold 32 tons of crude selenium yesterday.

SMM News on February 4: According to market rumors, a major plant in East China recently conducted a public sales tender for 32 tons of crude selenium, which has attracted considerable market attention. It is reported that the entire batch was successfully sold, though the specific transaction price was not officially disclosed. According to some market participants involved in the bidding, the final actual transaction price was around 185 yuan per kilogram. Market analysts noted that the results of the selenium tender once again set a new recent high, indicating that the upward trend in selenium prices continues unabated. Despite the year-end approaching, buying interest from end-users and speculative buyers in the crude selenium market has not weakened in any way.

13 hours ago