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

PT Krakatau Steel (Persero) Tbk (KRAS) is consolidating four of its subsidiaries into one entity, with PT Krakatau Baja Konstruksi (KBK) as the surviving company. The three merged entities are PT Krakatau Baja Industri (KBI), PT Krakatau Konsultan (KK), and PT Krakatau Perbengkelan dan Perawatan (KPdP). The merger deed was signed on September 30, 2026, in Cilegon. All four entities are at least 99% owned by KRAS, directly or indirectly. KBK, which produces profile steel and rebar and has operated since 1992, is the largest of the four, with total assets of US$186.3 thousand at the end of the first half. KBI holds US$22.6 thousand, KPdP US$60.8 thousand, and KK US$139, bringing combined assets to about US$269.8 thousand (around IDR 4.83 billion). KRAS says the merger is in line with its business strategy and will not affect operations, legal or financial conditions, or business continuity.

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.