- Chinese prices decline on weak buying interest
- Limited trading keeps Indian prices stable
Indian ferro molybdenum (Mo: 60%) prices remained largely stable w-o-w on 21 October 2026, edging down by INR 7,500/t ($79/t) to INR 4,424,500/t ($46,874/t) exw. Prices held broadly steady despite bearish global sentiment, as stable imported molybdenum oxide costs provided some support. However, limited trading activity and cautious buying kept the market subdued.
Market recap (15–20 October)
Indian market remains stable amid cautious buying: Indian ferro molybdenum prices remained largely stable, supported by steady imported molybdenum oxide costs. Imported molybdenum oxide prices held unchanged w-o-w at $33.10/lb CNF India, helping limit cost-side pressure on domestic sellers.
Meanwhile, India’s stainless steel market remained subdued in the week ended 20 October, with the Navratri and Dussehra holiday period, liquidity constraints and limited trading activity keeping procurement cautious. Demand for stainless steel flats was relatively better ahead of Diwali, while long products faced weaker demand amid subdued downstream consumption and limited export opportunities. Prices were mixed, with assessments for 316-grade coil and black bar each declining by INR 5,000/t ($53/t). The 316-grade hot-rolled coil price stood at INR 445,000/t ($4,714/t), while cautious purchasing continued to limit fresh ferro molybdenum buying.
Global market remains bearish amid weak buying: Ferro molybdenum (Mo: 60%) prices in China stood at RMB 334,000/t ($5,0015/t) exw-Inner Mongolia. The broader global market remained subdued, with weak buying interest, declining molybdenum oxide and ferro molybdenum prices, and cautious buyers reluctant to take positions. Limited transactions and thin liquidity intensified competition among sellers, who became more flexible on offers to attract buyers. Weakness in upstream molybdenum oxide prices also weighed on sentiment in the European ferro molybdenum market.
In Europe, ferro molybdenum prices remained stable w-o-w at $77/kg, despite limited buying activity and pressure from weaker upstream markets.
LME molybdenum futures remained broadly stable, edged down by $0.10/lb w-o-w to $33.14/lb on 20 October.
Outlook
Indian ferro molybdenum prices are expected to remain stable to slightly weak, as steady oxide costs offer support while cautious stainless steel buying and bearish global sentiment limit gains.
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