- Chinese prices dip on lower cost support, weak demand
- LME molybdenum futures edge down by $0.41/lb w-o-w
Indian ferro molybdenum prices dropped by INR 92,000/t ($1,031/t) w-o-w from the previous assessment on 19 November 2025. The decline was driven by weak demand and fewer inquiries, while a drop in global prices further weighed on overall market sentiment.
According to BigMint’s assessment on 26 November, ferro molybdenum prices in India stood at INR 2,683,000/t ($30,060/t) ex-works. Trades for around 75 t were recorded last week within the range of INR 2,600,000-2,750,000/t ($29,130-30,811/t) exw.
Market updates (20-25 November)
Chinese prices soften w-o-w: Ferro molybdenum (Mo 60%) prices in China fell slightly by RMB 8,000/t ($1,130/t) w-o-w to RMB 234,500/t ($33,111/t) exw-Inner Mongolia.
Molybdenum concentrate prices softened, reducing cost support for ferro molybdenum. Meanwhile, steel mills adopted a cautious procurement approach and continued to push for lower prices. This increased selling pressure on manufacturers and traders and further eroded their bargaining power. The combined influence of lower costs and weak demand led to the w-o-w price drop.
Additionally, European ferro molybdenum (Mo 70%) prices eased by $1.1/kg w-o-w to $53/kg, pressured by weak demand. Trading activity remained quiet, with sellers receiving fewer inquiries from buyers. In the US as well, prices (Mo 70%) inched down by $1.1/kg w-o-w to $54/kg.
LME futures inch down w-o-w: On the London Metal Exchange (LME), molybdenum futures fell slightly by $0.41/lb w-o-w to $21.79/lb on 25 November.
Soft demand weighs on Indian market: Indian ferro molybdenum prices declined, largely tracking global trends. There were fewer inquiries, reflecting softening demand, and buyers were reluctant to trade at prevailing offers, which they considered to be too high. Despite this, trading volumes remained steady, with around 75 t recorded. A seller told BigMint, “The stainless steel market is performing poorly, which has dampened overall sentiment.”
Indian stainless steel market remains soft: Prices of 316-grade stainless steel hot-rolled coils (HRCs) remained steady w-o-w at INR 338,000/t ($3,789/t) exw Mumbai. However, there was limited trading activity amid ample inventories with buyers, and participants remained cautious following QCO exceptions on stainless steel flat products until 31 March 2026.
Outlook
Indian ferro molybdenum prices are expected to remain volatile in the near term, with global market movements and demand trends likely to continue shaping the market.
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