India: Ferro molybdenum prices continue to rise on positive global cues

• Prices edge up in US, European markets
• 50 t of deals heard in domestic market last week

Indian ferro molybdenum prices witnessed an increase of INR 77,000/t ($896/t) as compared to the last assessment on 28 May 2025. Prices increased as demand picked up both in the global and domestic markets.

As per BigMint’s assessment on 4 June, ferro molybdenum prices in India were INR 2,630,000/t ($30,598/t) exw-India. Around 50 t of trades were concluded last week in the price range of INR 2,560,000-2,675,000/t ($29,784-31,122/t) exw.

Some offers from suppliers were also heard at INR 2,680,000/t ($31,208/t) exw-India levels.

Market highlights (29 May – 3 June)

Uptick in Chinese prices: Ferro molybdenum (Mo:60%) prices in China inched up by RMB 2,000/t ($278/t) w-o-w to RMB 247,500/t ($34,354t) exw-Inner Mongolia. Prices rose amid tight availability of molybdenum concentrate. Also as environmental protection measures and production restrictions in key producing regions have limited the availability of raw materials, smelters maintained a strong willingness to raise prices.

Global market trends: Global molybdenum oxide powder spot prices remained under pressure, supported by strong Asian demand and firm pricing. Market participants highlighted that tight supply of molybdenite concentrate and declining oxide inventories following increased trading activity continued to support the Asian market’s strength.

In contrast, the European market remained more focused on ferro molybdenum, with several steel mills reportedly making enquiries. However, buying interest for oxide powder in Rotterdam was subdued.

Prices inched up in the US and Europe (Mo: 70%) by $2/kg w-o-w to $52/kg and $53/kg, respectively.

Rise in LME futures prices: On the London Metal Exchange (LME) platform, prices increased by $1.15/lb w-o-w to $21.61/lb on 3 June.

Global effect on Indian market: With the recent hike in prices, particularly in China and increased Asian market, sellers in the Indian domestic sector raised their offers. And deals at those elevated offers helped to sustain prices.

A domestic producer informed BigMint, “Shipping charges too have gone up resulting in increased prices for molybdenum oxide imports.” In addition, shipping delays have also supported the upward trend in prices.

Outlook

Taking into account the positive signs in the global and domestic markets, prices are expected to rise further in the days ahead.