- Domestic market remains stable amid festive lull
- Stainless steel market moderate amid limited demand
Indian ferro molybdenum prices stayed range-bound this week, declining marginally by INR 36,000/t ($405/t) in comparison to the previous assessment on 1 October. Regular domestic trades, along with unchanged market sentiments, kept prices largely steady.
As per BigMint’s assessment on 8 October, ferro molybdenum prices in India were at INR 3,032,000/t ($34,150/t) exw. Trades for around 40 t were concluded last week within the price bracket of INR 2,875,000-3,150,000/t ($32,381-35,479/t) exw.
Market recap (2-7 October 2025)
Market stays stable during holidays: The Indian domestic ferro molybdenum market remained largely stable during the last week, supported by routine trades of nearly 40 t. Additionally, due to the festive holidays, the market showed no major changes, reflecting quiet sentiment.
Global market trends: The Chinese market remained closed for the Golden Week holidays, further contributing to the lack of movement in India. However, despite the holidays in both China and South Korea, spot activity in the Asian market picked up as traders assessed prices ahead of their return. Sellers also indicated that they had received increased inquiries for oxide powder across Asian markets.
The European spot market for molybdenum oxide powder remained quiet, with limited activity and no trades concluded. While some buyers continued to make inquiries for ferro molybdenum, overall market sentiment remained weak.
LME futures tick down w-o-w: On the London Metal Exchange (LME), molybdenum futures remained largely stable, slipping slightly by $0.23/lb w-o-w to $24.80/lb on 7 October.
Limited buying keeps end-user market moderate: Prices of 316-grade stainless steel hot-rolled coils (HRCs) remained steady w-o-w at INR 345,000/t (3,887/t) exw-Mumbai. The stainless steel market remained moderate this week, supported by limited buying interest from domestic buyers. Despite stable demand, the temporary suspension of BIS norms is expected to ensure sufficient supply in the market. This increased availability could create some pressure on prices in the near term, keeping the overall market outlook cautious and restrained.
Outlook
Considering prevailing market conditions, ferro molybdenum prices are likely to stay in the current range only, with some fluctuations.
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