- Delayed arrivals of molybdenum oxide limit production
- Stainless steel prices firm w-o-w, gains likely in near term
Indian ferro molybdenum (Mo 60%, 10-100 mm) prices edged up by INR 34,000/t ($365/t) w-o-w on 1 April 2026. The slight price increase was driven by delayed arrivals of molybdenum oxide shipments, leading to limited production. Global price gains also boosted Indian prices.
Ferro molybdenum prices in India were at INR 3,534,000/t ($37,919/t) exw, as per BigMint’s assessment on 1 April 2026. Deals of approximately 35 t were heard in the price range of INR 3,450,000-3,550,000/t ($37,018-38,091/t) exw.
Market highlights (26-31 March 2026)
Tight raw material supply lifts prices: Ferro molybdenum prices in the Indian domestic market increased slightly, supported by tightening supply conditions. Key sellers were left with limited material amid delayed arrivals of molybdenum oxide shipments from exporting regions such as the US, Chile, driven by the US-Iran conflict in the Middle East. Due to uncertainty over raw material availability, suppliers were reluctant to accept orders for future deliveries. The constrained supply scenario, combined with cautious seller participation, lent upward support to prices.
Meanwhile, market activity remained subdued as fewer transactions were concluded amid financial year-end closures, with many buyers postponing purchases. Additionally, imported molybdenum oxide (Mo: 57% min) prices in India increased marginally by $0.2/lb w-o-w to $27.1/lb CNF, further contributing to the firm price trend.
China’s prices rise w-o-w: Ferro molybdenum (Mo:60%) prices in China edged up by RMB 3,000/t ($436/t) w-o-w to RMB 280,500/t ($40,732/t) exw-Inner Mongolia. Firm molybdenum concentrate prices provided strong cost support to smelters, who were unwilling to sell below production costs. Meanwhile, steel mills mainly purchased based on immediate requirements and showed resistance to higher prices. Trading activity stayed quiet, with mostly small spot deals taking place. Market sentiment remained cautious, and prices held steady at relatively high levels. In the near term, prices are expected to remain stable due to tight raw material supply, steady steel demand, and continued cost support, limiting both sharp increases and significant declines.
In Europe and the US (Mo:70%), prices held steady w-o-w at $65/kg and $80/kg, respectively. Molybdenum futures on the London Metal Exchange too stayed largely steady at $26.61/lb on 31 March 2025.
Stainless steel demand improves slightly: Stainless steel prices for 316 grade CRC went up by INR 4,000/t ($43/t) w-o-w to INR 384,000/t ($4,110/t) exw-Mumbai, supported by slowly improving demand and tightening material supply. Market participants expect further price gains amid continuing supply disruptions and geopolitical uncertainties. Meanwhile, India has provided a temporary exemption from mandatory input standards for certain stainless steel flat product imports, helping ease procurement concerns. The exemption covers shipments with bills of lading dated on or before 30 September 2026.
Outlook
With shipping delays continuing due to geopolitical tensions, raw material supplies to India might stay limited. Therefore, ferro molybdenum prices are expected to stay firm next week.
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