For the Quarter Ending September 2025
North America
• In United States, the Ferro-Molybdenum Price Index remained stable quarter-over-quarter in Q3 2025, influenced by mixed demand signals and rising production costs.
• Ferro-Molybdenum production costs trended upward due to a 3.0% CPI increase in September 2025 and a 2.6% PPI increase in August 2025.
• The demand outlook for Ferro-Molybdenum was mixed, with industrial production showing near stagnation at 0.1% year-over-year in September 2025.
• Ferro-Molybdenum price forecast suggests continued stability, as strong retail sales (5.42% YoY Sept 2025) counteracted declining consumer confidence in September 2025.
• Construction spending increased month-over-month in July and August 2025, supporting Ferro-Molybdenum demand in the construction sector.
• Industrial electricity prices increased in August 2025, contributing to higher production expenses for Ferro-Molybdenum.
• Raw steel output, a key demand driver, was historically strong for most of Q3 2025, though it eased in September 2025.
• U.S. natural gas prices eased in September 2025, offering some relief to energy-intensive Ferro-Molybdenum production costs.
• The unemployment rate remained stable at 4.3% in September 2025, indicating a foundational level of economic activity.
• Consumer confidence declined to 94.2 in September 2025, signaling potential weakening in demand for key end-use products.
Why did the price of Ferro-Molybdenum change in September 2025 in North America?
• Rising input costs, with CPI increasing 3.0% in September 2025 and PPI rising 2.6% in August 2025, elevated production expenses.
• Mixed industrial demand, as industrial production showed near stagnation at 0.1% year-over-year in September 2025, impacting steel consumption.
• Energy cost pressures from increased industrial electricity prices in August 2025 added to the overall cost of Ferro-Molybdenum production.
APAC
• In China, Ferro-Molybdenum Price Index rose quarter-over-quarter, driven by significant production cost increases.
• Molybdenum concentrate prices rapidly increased in July 2025 due to a mining incident, raising production costs.
• Demand for Ferro-Molybdenum was supported by surging automotive shipments and record auto production in September 2025.
• China's Industrial Production grew 6.5% year-on-year in September 2025, indicating increased factory output.
• Manufacturing Index contracted in September 2025, suggesting a broader manufacturing sector slowdown.
• Molybdenum concentrate and raw material inventories remained low in July-August 2025, tightening supply.
• China's CPI decreased 0.3% and PPI fell 2.3% year-on-year in September 2025, reflecting weak demand.
• Retail sales grew 3.0% year-on-year in September 2025, offering some indirect support to economic activity.
• Ferro-Molybdenum Price Index is forecast to remain firm due to persistent cost pressures and tight raw material supply.
Why did the price of Ferro-Molybdenum change in September 2025 in APAC?
• Molybdenum concentrate prices rapidly increased in July 2025 due to a mining incident, raising production costs.
• Low inventories of molybdenum concentrate and raw materials tightened supply through July and August 2025.
• Strong automotive demand in September 2025 partially offset broader industrial slowdown.
Europe
• In Germany, the Ferro-Molybdenum Price Index fell quarter-over-quarter in Q3 2025, influenced by contracting manufacturing activity.
• Ferro-Molybdenum production costs faced upward pressure from tightening molybdenum concentrate supply from July 2025.
• Natural gas prices in Germany eased in Q3 2025, supported by robust LNG imports, reducing energy-related production costs.
• Ferro-Molybdenum demand outlook was bearish as Germany's industrial production declined 1.0% in September 2025.
• Global molybdenum supply remained tight in Q3 2025 due to operational challenges and a major mining incident in July 2025.
• The Manufacturing Index was contracting in Q3 2025, signaling reduced new orders for industrial inputs like Ferro-Molybdenum.
• Producer prices of industrial products were lower by 1.7% in September 2025, mainly due to decreased energy costs.
• Consumer Price Index increased 2.4% year-over-year in September 2025, suggesting higher operational costs for end-users.
Why did the price of Ferro-Molybdenum change in September 2025 in Europe?
• Germany's industrial production declined 1.0% in September 2025, reducing overall demand for Ferro-Molybdenum.
• Molybdenum concentrate supply tightened from July 2025, increasing raw material costs for Ferro-Molybdenum production.
• Natural gas prices eased in Q3 2025, lowering energy-related production expenses for European Ferro-Molybdenum manufacturers.
