- Buyers show caution amid strong price hike
- LME molybdenum oxide prices hit 2-year high
Indian ferro molybdenum prices rose by INR 57,000/tonne (t) ($650/t) in comparison to the previous assessment on 20 August. The price hike followed an increase in London Metal Exchange (LME) molybdenum oxide tags and global ferro molybdenum rates.
As per BigMint’s assessment on 27 August, ferro molybdenum prices in India were at INR 3,100,000/t ($35,324/t) exw. Deals for around 10 t, a significantly low volume, were recorded by BigMint in the price range of INR 3,035,000-3,125,000/t ($34,583-35,609/t) exw.
Market summary (21-26 August 2025)
Sellers raise offers, buyers show caution: Domestic prices increased mainly because sellers faced higher costs, which pushed them to raise offers. Additionally, molybdenum oxide prices on the LME also moved up to a two-year high of $25.24/lb on 26 August, last seen in August 2023.
However, demand was tepid in comparison, as buyers were cautious and avoided making purchases at higher prices. As a result, the market witnessed a mix of stronger prices but modest demand, reflecting uncertain sentiment among participants.
Global market trends: Ferro molybdenum (Mo:60%) prices in China increased by RMB 6,000/t ($839/t) w-o-w to RMB 287,500/t ($40,193/t) exw-Inner Mongolia. On the supply side, the availability of lower domestic molybdenum ore grades and stricter environmental regulations restricted new production, while output in major overseas countries showed volatility, with some mines under maintenance. On the demand front, stainless steel and special steel output remained firm, while consumption in new energy, military, and other industries improved.
Demand continued to be supported by stainless steel, special steel, and growing applications in new energy and defence sectors. Cost pressures and positive sentiment are also likely to keep prices supported.
Additionally, in the US and Europe (Mo:70%), prices edged up by $0.2/kg w-o-w to $59/kg and $57/kg, respectively.
Outlook
In the coming days, prices are likely to stay range-bound, as buyers exercise caution in procuring at elevated levels.
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