- Defence demand supports Indian prices
- Chinese prices ease slightly amid cautious trading
Indian ferro molybdenum (Mo 60%, 10-100 mm) prices edged down slightly by INR 14,000/t ($151/t) in comparison to the 11 March assessment. Prices were largely stable as no major changes were seen in global and domestic market fundamentals.
Ferro molybdenum prices stood at INR 3,500,000/t ($37,851/t) exw-India, as per BigMint’s assessment on 18 March. Around 70 t of deals were concluded last week in the price bracket of INR 3,400,000-3,650,000/t ($36,769-39,473/t) exw.
Market recap (12-17 March)
Global market trends: Ferro molybdenum (Mo:60%) prices in China edged down by RMB 2,000/t ($290/t) w-o-w to RMB 281,500/t ($40,875/t) exw-Inner Mongolia. Limited supply of molybdenum concentrate kept production costs firm, as mines preferred to hold prices rather than sell cheaply. Steel mills mainly bought material only for immediate needs and tried to negotiate lower prices, resulting in cautious trading and slow deals. Overseas markets, especially in Europe, also remained stable at $67/kg, while supply disruptions in key producing regions supported prices. Overall market activity was quiet, with buyers resisting high-price transactions.
In the short term, prices are likely to move within a narrow range at elevated levels due to tight supply and steady essential demand. High prices may limit buying interest, but improving downstream demand could gradually support higher prices over time.
LME futures firm w-o-w: Molybdenum futures on the London Metal Exchange were largely stable, down marginally by $0.07/lb w-o-w to $27.02/lb on 17 March 2026.
Balanced demand keeps Indian prices stable: Ferro molybdenum prices in the domestic market remained stable last week as sellers continued to keep their offers firm, supported by regular trading activity. Some suppliers were also catering to earlier orders, which reduced fresh material availability and helped maintain steady price levels.
According to market sources, demand remained good, especially from the defence sector, which supported overall market sentiment. Due to balanced demand and controlled supply in the market, ferro molybdenum prices largely held steady throughout the week.
Imported molybdenum oxide (Mo: 57% min) prices in India too remained stable w-o-w at $27.20/lb CNF on 18 March 2026.
Supply disruptions support Indian stainless steel prices: Stainless steel prices for 316 grade CRC went up by INR 15,000/t ($162/t) w-o-w to INR 380,000/t ($4,096/t) exw-Mumbai. The prices were supported by supply disruptions and higher logistics costs amid ongoing geopolitical tensions. However, domestic demand remained weak due to continued liquidity constraints across the value chain. Although inquiries were seen in the market, actual purchases were mostly requirement-based, showing a cautious buying sentiment among market participants.
Outlook
Based on existing market conditions, ferro molybdenum prices in the coming week are likely to stay around the existing price levels.
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