India: Ferro molybdenum prices rise by INR 19,000/t ($220/t) on LME trigger

• LME molybdenum futures hit six-month peak
• Chinese prices decrease by $1,000/t w-o-w

Indian ferro molybdenum prices rose by INR 19,000/tonne ($220/t) to INR 2,674,000/t ($30,969/t) exw-India, as per BigMint’s assessment on 18 June, in comparison to the previous assessment on 11 June. Prices went up following an uptrend in LME futures prices which triggered the increase.

Around 15 t of deals were reported to BigMint last week in the price bracket of INR 2,650,000-2,675,000/t ($30,691-30,981/t) exw.

Market recap (12-17 June 2025)

LME molybdenum futures hit 6-month peak

Prices on the London Metal Exchange (LME) platform, which serves as a primary benchmark for determining ferro molybdenum prices, hit $21.95/lb on 10 June, the highest-ever since November last year. Latest prices were at $21.81/lb on 17 June, largely steady w-o-w.

Post-this peak, an uptick in imported molybdenum oxide rates was also seen which further supported Indian domestic offers. A seller in the domestic Indian market told  BigMint, “Ferro molybdenum prices are on an increasing trend these days. Demand is good and there’s some shortage of material as well.”

Another seller informed, “Iran is also a source of molybdenum oxide and with the ongoing geo-political tensions, people are stocking up, which is leading to the price increase.”

Global price trends

Ferro molybdenum (Mo:60%) prices in China inched down by RMB 1,000/t ($139/t) w-o-w to RMB 247,500/t ($34,447/t) exw-Inner Mongolia. Demand went up steadily, supported by the expansion of key downstream industries such as construction, Defence, and new energy vehicles. This led to increased interest in purchases from steel companies. However, due to the sharp rise in molybdenum product prices in recent weeks, many buyers became price-sensitive and were more cautious with their purchases.

In the US and European markets, prices (Mo:70%) stayed stable w-o-w, going down marginally by $0.1/kg w-o-w to $53/kg and $52/kg, respectively. The European market remained calmer and less volatile, with deals mostly concluded at $21.75–$21.90/lb in Rotterdam and Austria.

Outlook

Some sellers in the domestic market have raised their offers by up to INR 2,700,000/t ($31,270/t) exw. And with steady demand, prices may see further uptick in the days ahead.