- Rising costs of imported molybdenum oxide prompt sellers to raise offers
- Chinese, European prices increase despite cautious trading activity
Indian ferro molybdenum (Mo: 60%) prices continued to rise further, by INR 49,000/t ($514/t) w-o-w to INR 4,359,000/t ($45,729/t) exw on 12 August 2026. Prices edged up following a rise in global prices and raw material costs.
Deals for around 45 t were concluded last week within the price bracket of INR 4,190,000-4,500,000/t ($43,956-47,208/t) exw.
Market recap (6-11 August)
Global market strengthens despite cautious buying: Ferro molybdenum (Mo:60%) prices in China rose by RMB 2,000/t ($297/t) w-o-w to RMB 339,000/t ($50,257/t) exw-Inner Mongolia. The molybdenum concentrate market remained stable, with prices holding at high levels. Sellers were reluctant to reduce offers, as spot supply was tight and production costs were high. Meanwhile, buyers remained cautious due to high prices. Smelters and steel traders mainly purchased only for immediate needs, with little interest in stockpiling. Traders also preferred to wait and watch, keeping market activity limited. The gap between buying and selling prices remained wide, slowing negotiations.
Overseas markets remained mixed, with European buyers cautious and South Asian sellers maintaining firm offers despite pressure from steel mills for lower prices. In Europe, prices rose by $1/kg w-o-w to $75/kg.
Molybdenum futures on the London Metal Exchange also edged up by $0.54/lb w-o-w to $33.36/lb on 11 August.
Indian prices gain on higher raw material costs: Indian ferro molybdenum prices continued to move higher, tracking the uptrend in global markets. Sellers maintained firm offers, with offer levels rising to up to INR 4,500,000/t ($47,208/t) exw amid stronger market sentiment and higher raw material costs. Imported molybdenum oxide prices also provided support, increasing by $0.06/lb w-o-w to $33.51/lb CNF India. Buyers showed limited resistance to higher offers amid elevated oxide costs and firm global prices.
Indian stainless steel prices rise on cost support: A leading Indian stainless steel producer raised domestic HR and CR coil prices by INR 1,000-3,000/t ($10-31/t) from 10 August, its first revision this month. The hike was mainly driven by higher ferro molybdenum costs, volatile nickel prices, and uncertainty over Indonesia’s revised nickel mining quotas. Improved domestic demand and tight availability of certain grades further supported the increase, with discounts also withdrawn on some products. Stainless steel imports remained subdued as domestic material was competitively priced, encouraging buyers to source locally. Overall, higher input costs, firm domestic demand and limited availability supported the Indian stainless steel market.
Outlook
Indian ferro molybdenum prices are expected to remain firm in the coming week, supported by elevated global prices, higher molybdenum oxide costs and strong seller price expectations. Limited spot availability and higher stainless steel prices may provide additional support. However, cautious buying and need-based procurement could limit trading activity and prevent a sharp price rise.
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