- Around 35 t of trades concluded last week
- Chinese prices rise by RMB 10,000/t ($1,376 /t) w-o-w
Indian ferro molybdenum prices edged down slightly by INR 5,000/t ($59/t) last as against the previous assessment on 23 April. Prices were stable as market showed minimal movements.
Ferro molybdenum prices in India were INR 2,547,000/t ($30,044/t) exw-India, as per BigMint’s assessment on 30 April. Around 35 t of deals were reported last week in the price range of INR 2,490,000-2,550,000/t ($29,372-30,079/t) exw.
Market summary (24-29 April 2025)
Routine trades in stable environment: The domestic market was largely steady over the last week. Supply and demand too stayed at usual levels which was reflected in 35 t of trades carried out last week.
Despite some sellers being sold out for the month and recent decline in imports due to BIS licence expiration, prices held firm in the domestic market.
Rise in Chinese prices: In China, ferro molybdenum (Mo:60%) prices rose by RMB 10,000/t ($1,376 /t) w-o-w to RMB 223,500/t ($30,745 /t) exw-Inner Mongolia. The price uptick was driven by tight raw material supply due to environmental restrictions and limited domestic mine output. Smelters showed a strong willingness to raise prices, while high stainless steel plant operating rates and peak season orders in April boosted demand. Additionally, bidding volumes from steel mills exceeded 9,000 t, including long-term contracts.
Furthermore, high international molybdenum oxide prices and increased mining costs further pushed up domestic offers. However, despite increased bidding activity in East and South China, sluggish stainless steel demand and tight liquidity at steel mills limited acceptance of high prices, prompting stronger bargaining sentiment.
Global prices steady w-o-w: Prices remained unchanged in other regions. In the US and Europe (Mo: 70%), prices were largely steady w-o-w at $50/kg and $48/kg, respectively.
Additionally, on the London Metal Exchange (LME), prices remained steady, edging down marginally by $0.1/lb w-o-w to $19.74/lb on 29 April.
Outlook
Prices are likely to stay rangebound in the days ahead with slight variations due to lack of significant market shift.
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