- Chinese and European prices fall on weak demand
- Oxide supply tightness supports Indian market
Indian ferro molybdenum (Mo 60%, 10-100 mm) prices stayed unchanged as compared to the assessment on 18 March. Sellers in India kept prices largely stable as molybdenum oxide shipments were getting delayed amid ongoing geopolitical tensions.
As per BigMint’s assessment on 25 March, ferro molybdenum prices in India were INR 3,500,000/t ($37,257/t) exw. Limited deals of around 10 t were reported last week in the price range of INR 3,425,000-3,600,000/t ($36,458-38,321/t) exw.
Market summary (19-24 March)
Decline in global market: Ferro molybdenum (Mo:60%) prices in China fell by RMB 4,000/t ($580/t) w-o-w to RMB 277,500/t ($40,260/t) exw-Inner Mongolia. Prices eased slightly as steel mills tried to secure material at lower rates to meet short-term requirements. At the same time, smelters showed weaker confidence in holding prices, which led to softer market activity and reduced transaction levels. Falling European prices also pressured domestic offers. Slow sales of molybdenum concentrate encouraged traders to offer discounts to clear stocks, keeping market sentiment weak and prices moving slightly lower within a narrow range.
In Europe (Mo:70%), prices fell by $2/kg w-o-w to $65/kg. Molybdenum futures on the London Metal Exchange too edged down marginally by $0.31/lb w-o-w to $26.71/lb on 24 March 2026.
Indian market steady on raw material constraints: Indian ferro molybdenum prices remained largely unchanged during the week as sellers reported delays in molybdenum oxide shipments, making material availability the key price-deciding factor in the market. One of the major domestic producers was also left without fresh material to offer, which further limited spot availability. At the same time, sellers remained cautious about accepting forward orders due to uncertainty arising from the ongoing war situation, creating hesitation in committing to future supplies. These factors collectively kept domestic prices steady despite muted trading activity.
Meanwhile, imported molybdenum oxide (Mo: 57% min) prices in India also stayed mostly stable, edging down slightly by $0.3/lb w-o-w to $26.9/lb, reflecting balanced market fundamentals.
Outlook
Ferro molybdenum prices in the coming days are expected to stay at current levels.
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