India: Ferro molybdenum prices rise on firm global, domestic demand

• Strong Chinese demand tightens global oxide supply
• Chinese prices rise on cost pressures, low inventories

Indian ferro molybdenum (Mo 60%, 10-100 mm) prices rose INR 80,000/t ($844/t) w-o-w on 29 April 2026. Prices increased, as demand was steady across both domestic and global markets, especially in China.

Ferro molybdenum prices in India were INR 3,680,000/t ($38,825/t) exw, as per BigMint’s assessment on 29 April. Deals for around 45 t were concluded last week within the price bracket of INR 3,530,000-3,750,000/t ($37,242-39,563/t) exw.

Market summary (23-28 April 2025)

Prices rise on strong demand, supply crunch: Ferro molybdenum prices in the Indian domestic market continued to strengthen amid persistent tightness in molybdenum oxide availability. A key market participant highlighted that significant volumes were being booked by China, limiting supply for Indian buyers. This ongoing shortage, coupled with the depreciation of the Indian rupee against the US dollar, led sellers to revise their offers upward.

At the same time, demand remained steady across key consuming sectors, providing further support to the bullish sentiment. As a result, ferro molybdenum prices trended higher during the period, reflecting both supply constraints and firm market fundamentals.

Imported molybdenum oxide (Mo: 57% min) prices in India too rose by $0.6/lb w-o-w to $28/lb on 29 April 2026.

LME futures edge up w-o-w: Molybdenum futures on the London Metal Exchange edged up by $0.83/lb w-o-w to $28.01/lb on 28 April.

Global price trends: Ferro molybdenum (Mo:60%) prices in China went up by RMB 8,000/t ($1,170/t) w-o-w to RMB 300,000/t ($43,876/t) exw-Inner Mongolia. The market was firm at elevated levels, though overall trading activity was cautious. Only limited deals were concluded at higher prices, reflecting a strong but selective market sentiment.

On the raw material side, molybdenum concentrate prices stayed high, increasing cost pressure on smelters. Low inventory levels further reduced their willingness to sell at lower rates, keeping supply tight. Demand received some support from fresh tenders by major steel producers, but buyers largely preferred small, need-based purchases due to high prices.

In Europe as well, prices (Mo:70%) went up by $2/kg w-o-w to $65/kg.

Outlook

Ferro molybdenum prices in the coming days are expected to stay at current levels as the upcoming Labour Day holidays in China may slow down demand, impacting global market dynamics.