- End-user demand continues at a moderate pace
- Prices edge higher in China, Europe, and US
Indian ferro molybdenum (Mo 60%, 10 – 100 mm) prices went up by INR 64,000/t ($698/t) compared to the assessment on 27 February 2026. Prices picked up gradually during the week, supported by a slight rise in LME futures. However, market inquiries remained limited and moderate amid festival holidays.
According to BigMint’s assessment on 6 March, ferro molybdenum prices stood at INR 3,514,000/t ($38,336/t) exw-India. During the week, around 40 t of deals were recorded at around INR 3,540,000-3,550,000/t ($38,613-38,729/t) exw India.
Market updates (26 February – 5 March 2026)
Global market trends: Ferro molybdenum prices in China rose by RMB 11,000/t ($1,595/t) to RMB 285,000/t ($41,319/t) Ex-Inner Mongolia. The market dynamics remained firm, with prices trending upward, primarily supported by strong production costs and demand. Elevated prices of upstream molybdenum concentrate kept smelters operating at high cost levels, providing solid cost support to the market.
Downstream steel mills entered the market to replenish inventories after the holiday, leading to a gradual release of demand. Supported by strong costs and improving demand, inventory holders remained reluctant to sell, which further pushed prices higher.
European ferro molybdenum (Mo: 70%) prices inched up by $2/kg w-o-w to $67/kg despite limited spot market activity, while US ferro molybdenum (Mo: 70%) prices increased by $5/kg w-o-w to $78/kg.
LME futures prices edge up w-o-w: Molybdenum futures on the London Metal Exchange edged up by $0.34/lb w-o-w to $27.09/lb on 5 March 2026.
Indian market scenario: Although global market trends continued to strengthen, particularly in China, Indian ferro molybdenum prices witnessed only a slight upward movement and picking up gradually. The domestic market largely remained stable, with fewer inquiries during the festival holiday period, which kept overall trading activity limited.
End-user demand remained moderate, with buyers continued to procure material mainly on a need-based basis rather than building inventories. As a result, spot market transactions were limited. Overall, market sentiment stayed steady, with market participants closely monitoring demand recovery and global price movements.
Meanwhile, Indian imported molybdenum oxide (Mo: 57% min) prices inched up by $0.5/lb w-o-w to $27.70/lb CNF on 6 March 2026
End-user market sentiments: Prices of 316-grade stainless steel hot-rolled coils (HRCs) remained steady w-o-w at INR 348,000/t ($37,869/t) exw-Mumbai. Demand for finished stainless steel stayed moderate during the week due to ongoing festivities and prevailing geopolitical uncertainties. Meanwhile, rising raw material and freight costs continued to pressure producers, as Indian stainless steel makers rely heavily on imported inputs.
Market sources indicated that a major producer increased 316-grade coil prices by INR 4,000/t ($44/t). Overall, the stainless steel market remained range-bound, supported by stable domestic demand, while prices stayed firm amid rising raw material costs.
Outlook
Ferro molybdenum prices are expected to remain range-bound in the near term, though significant changes in end-user demand or raw material costs will likely influence prices.
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