India: Ferro molybdenum prices strengthen on global cues, strong end-user demand

• Prices rise in China; US and Europe remain stable
• LME futures edge up by $0.32/lb w-o-w

Indian ferro molybdenum prices rose by INR 63,000/t ($201/t) w-o-w to INR 2,725,000/t ($30,331/t) ex-works as of 31 December, according to BigMint’s assessment. The increase was driven by strong domestic and global demand, along with higher LME molybdenum futures. Around 50 tonnes of material were traded during the week within the price range of INR 2,550,000-2,750,000/t ($28,383-30,609/t) exw.

Market updates (25-30 December 2025)

Global market trends: Ferro molybdenum (Mo 60%) prices in China rose by RMB 8,000/t ($284/t) w-o-w to RMB 247,500/t ($35,417/t) exw-Inner Mongolia. The ferro molybdenum market strengthened, supported by rising costs. Supply disruptions at international molybdenum mines kept raw molybdenum concentrate prices elevated, providing firm and rigid cost support to the market.

Meanwhile, year-end restocking by some steel mills boosted procurement activity and market transactions. Under the combined impact of cost pressures and restocking demand, manufacturers were more willing to hold prices, resulting in higher market prices.

Meanwhile, European ferro molybdenum (Mo 70%) prices held firm w-o-w at $53/kg amid muted trading activity due to the year-end lull. while US ferro molybdenum (Mo 70%) prices also remained stable w-o-w at $56/kg.

LME futures edge up w-o-w: On the London Metal Exchange (LME), molybdenum futures went up by $0.32/lb w-o-w to $21.63/lb on 30 December.

Stronger demand underpins the Indian domestic market: Following the upward trend in global markets, Indian ferro molybdenum (Mo 60%) prices strengthened last week, supported by improved downstream demand and rising LME molybdenum future prices, which encouraged suppliers to raise offers.

One of India’s leading stainless steel producer also raised its prices for 316/316L coils by INR 3,000/t ($33/t) effective 30 Dec’25. Buying interest from stainless steel producers hence picked up, further boosting market sentiment and supporting regular trading activity.

Outlook

Ferro molybdenum prices are likely to remain largely unchanged in the upcoming week, tracking demand cues from the stainless steel sector, while global market trends continue to influence the Indian market.