- Indian buyers resist elevated ferro molybdenum offers
- Stainless steel market holds firm amid rising input costs
Indian ferro molybdenum prices declined by INR 56,000/tonne (t) ($638/t) as compared to the previous assessment on 10 September. Prices dropped due to lower domestic inquiries and a fall in LME futures, along with global tags.
Ferro molybdenum prices were at INR 3,110,000/t ($35,418/t) exw-India, as per BigMint’s assessment on 17 September. Limited deals of around 10 t were recorded last week at around INR 3,170,000/t ($36,102/t) exw.
Market summary (11-16 September 2025)
Global prices decline: Ferro molybdenum (Mo:60%) prices in China fell by RMB 6,000/t ($843/t) w-o-w to RMB 286,500/t ($40,271/t) exw-Inner Mongolia. The market remained subdued, with prices fluctuating at low levels amid weak demand from downstream steelmakers, who showed little acceptance towards higher offers and kept purchases limited to immediate needs only. Global market volatility and softer macroeconomic expectations further dampened sentiment.
Molybdenum oxide prices also eased as concentrate tags weakened due to higher supply in the Chinese market and support from a stronger yuan against the US dollar.
In addition, prices edged down in the US and Europe (Mo:70%) markets, by $0.8/kg w-o-w to $60/kg and $58/kg, respectively.
On the London Metal Exchange (LME), molybdenum futures inched down by $0.48/lb w-o-w to $25.47/lb on 16 September.
Indian prices ease amid global pressure: Ferro molybdenum prices in India softened, largely tracking global market trends. Domestic buyers remained cautious after previously elevated offers reached INR 3,200,000/t ($36,443/t) exw levels, leading to slower procurement. In response, sellers reduced their offers to align with the weak buying sentiment and falling international prices. Overall, the market witnessed a correction as both sides adjusted to the changing global and domestic dynamics.
Stainless steel market remains firm: Prices of stainless steel 316 grade HRC were up slightly by INR 5,000/t (57/t) w-o-w to INR 345,000/t ($3,927/t) exw-Mumbai, as per BigMint’s assessment on 17 September.The stainless steel market remained firm, as buying activity slightly improved, with mills mulling another price hike on the back of rising input costs. Sales of finished longs were moderate due to the presence of competitively priced semis, while scrap demand stayed strong, supported by steady bookings and expectations of higher offers ahead.
Outlook
As per market sources, ferro molybdenum prices are slowly stabilising at current levels. In the coming days, prices are likely to stay within the current range with some variations.
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