- Imported molybdenum oxide prices remain stable w-o-w
- Stainless steel market sentiment improves; leading producer hikes prices
Indian ferro molybdenum (Mo: 60%) prices remained largely stable w-o-w on 14 October 2026, edging up by INR 36,000/t ($379/t) to INR 4,400,000/t ($46,353/t) exw. Prices held largely steady amid firm molybdenum oxide costs and supportive end-user demand.
Deals for around 15 t were recorded within the price bracket of INR 4,350,000-4,470,000/t ($45,826-47,090/t) exw.
Market recap (8-13 October)
Prices firm on stable oxide costs, firm stainless demand: Indian ferro molybdenum prices remained firm, supported by largely stable imported molybdenum oxide costs and improved sentiment in the domestic stainless steel market. Imported molybdenum oxide prices largely held steady w-o-w at $33.25/lb CNF India, keeping input costs stable and supporting sellers’ offers.
Meanwhile, a leading Indian stainless steel producer increased prices of 304- and 316-grade hot-rolled (HR) and cold-rolled (CR) products by INR 2,000/t ($21/t) and INR 3,000/t ($32/t), respectively, effective 11 October 2026. The revision reflected supply shortages in select sizes, limited stainless steel scrap availability, firm domestic demand and subdued imports. However, buyers were assessing the revised prices before committing to fresh purchases.
Going forward, India’s stainless steel market is expected to remain supported by festival-season demand and tight scrap availability. Nevertheless, further price increases will depend on molybdenum and nickel price movements, as well as downstream buying activity and buyers’ acceptance of higher stainless steel prices.
Global market faces buying pressure: Ferro molybdenum (Mo:60%) prices in China fell by RMB 6,000/t ($897/t) w-o-w to RMB 337,000/t ($50,358/t) exw-Inner Mongolia. Prices fell as steel mills pressed for lower bids and buyers resisted high-priced material. Lower procurement volumes forced smelters to offer discounts to clear stocks, while increased spot availability and active selling by traders added pressure. However, firm molybdenum concentrate prices continued to support production costs, limiting the scope for a sharp decline. Special steel production remained stable, but output plans for molybdenum-containing steel showed no increase. Overseas trading also remained sluggish, with limited export orders.
In the European market as well, buying stayed limited; however, prices were steady w-o-w at $77/kg.
LME molybdenum futures also remained broadly stable, up marginally by $0.02/lb w-o-w to $33.24/lb on 13 October.
Outlook
Indian ferro molybdenum prices are expected to remain largely firm in the upcoming week, supported by stable molybdenum oxide costs and festival-season stainless steel demand. However, declining prices in China and subdued international trading may limit further gains.
Further price direction will depend on buying activity and the extent to which higher stainless steel prices translate into improved ferro molybdenum procurement.
Leave a Reply