For the Quarter Ending March 2026
Molybdenum Prices in North America
- In USA, the Molybdenum Price Index rose by 11.61% quarter-over-quarter, driven by stronger import offers and alloy demand.
- The average Molybdenum price for the quarter was approximately USD 54099.33/MT, reflecting mixed monthly gains across import parcels.
- Molybdenum Spot Price tightened on thinning warehouse inventories, supporting seller leverage across West Coast import channels.
- Molybdenum Price Forecast indicates modest near-term upside as restocking and industrial melt programs sustain procurement.
- Molybdenum Production Cost Trend showed upstream oxide support and elevated furnace premiums sustaining landed cost pressure.
- Molybdenum Demand Outlook remains firm from stainless, alloy-steel, aerospace, and catalyst segments, absorbing higher offers.
- Molybdenum Price Index movement reflected smooth logistics but tighter merchant availability, limiting downside pressure thereby.
- Market participants advanced cargoes forward, reducing spot availability and reinforcing short-term upward momentum in Price Index.
Why did the price of Molybdenum change in March 2026 in North America?
- Firmer export offers from Chile and China reduced merchant availability, transferring increases into landed prices.
- Steady recovery in stainless and alloy-steel melt rates boosted immediate offtake, tightening spot inventories across terminals.
- Logistics remained smooth with stable freight, so origin price strength, not shipping costs, primarily drove the rise.
Molybdenum Prices in APAC
- In Thailand, the Ferro-molybdenum Price Index rose by 11.39% quarter-over-quarter, driven by constrained imports creating pressure.
- The average Ferro-molybdenum price for the quarter was approximately USD 35205/MT, driven by import tightness.
- Ferro-molybdenum Spot Price tightened as Laem Chabang inventories fell to three weeks, boosting buyer urgency.
- Ferro-molybdenum Price Forecast points to modest upticks near-term amid steady downstream restocking and constrained exports.
- Ferro-molybdenum Production Cost Trend saw weaker Thai baht and higher oxide feedstock increasing landed costs.
- Ferro-molybdenum Demand Outlook remains positive given Eastern Economic Corridor construction and steady alloy-steel mill offtake.
- Ferro-molybdenum Price Index reflected higher Chinese export offers after environmental audits limited oxide plant outputs.
- Ports operated smoothly but US tariff and long-term contracts diverted South American volumes, tightening parcel availability.
Why did the price of Ferro-molybdenum change in March 2026 in APAC?
- Steady exports from China and Chile met flat Thai inquiries, producing minimal price movement and sentiment.
- Firmer Thai baht partially offset dollar-linked import costs, reducing landed-cost pressure on March alloy pricing.
- Inventory adequacy at ports and logistics limited volatility despite upstream oxide audits sustaining supply caution.
Molybdenum Prices in Europe
- In Russia, the Ferro-molybdenum Price Index rose by 11.53% quarter-over-quarter, driven by export supply disruptions and tight logistics.
- The average Ferro-molybdenum price for the quarter was approximately USD 35183.33/MT, reflecting tightened CFR Novorossiysk landed costs.
- Logistics bottlenecks and container shortages lifted Ferro-molybdenum Spot Price drivers, sustaining buyer urgency and seller leverage.
- Cracker-like winter maintenance in China and Kazakhstan tightened supply, informing Ferro-molybdenum Price Forecast for near-term strength.
- Rouble weakness and elevated freight surcharges pushed Ferro-molybdenum Production Cost Trend marginally higher, supporting seller pricing power.
- Domestic mill buying remained steady, underpinning a constructive Ferro-molybdenum Demand Outlook despite cautious just-in-time procurement practices.
- Inventories tightened at seaborne hubs, amplifying the Ferro-molybdenum Price Index reaction to incremental export lot cancellations.
- Major roaster maintenance schedules and geopolitical freight risk elevated spot volatility, influencing near-term Ferro-molybdenum market resilience.
Why did the price of Ferro-molybdenum change in March 2026 in Europe?
- Export offers from Kazakhstan and China firmed, reducing prompt cargo availability into Russian Black Sea market.
- Long-term off-take diversion and scheduled smelter maintenance tightened seaborne supply, pressuring landed costs upward noticeably.
- Rail delays and limited Black Sea container slots increased logistics premiums, amplifying short-term seller pricing confidence.
For the Quarter Ending December 2025
Molybdenum Prices in North America
- In the USA, the Molybdenum Price Index fell by 3.09% quarter-over-quarter, amid muted domestic demand.
- The average Molybdenum price for the quarter was approximately USD 48470.33/MT, CFR San Diego average.
- Ferro-molybdenum 65%min CFR San Diego Spot Price firmed on tighter merchant availability despite import inflows.
- Molybdenum Price Forecast indicated modest upside as downstream mills increased spot inquiries and procurement activity.
- Molybdenum Production Cost Trend showed limited pressure from freight declines, mining and processing costs stable.
- Molybdenum Demand Outlook strengthened as stainless and alloy steelmakers lifted spot orders amid export support.
- Molybdenum Price Index movements moderated by manageable inventories and fluid port operations sustaining distribution flows.
- Traders adjusted offers as USD strength and lower freight improved landed-cost arbitrage into west coast.
Why did the price of Molybdenum change in December 2025 in North America?
- Stronger spot inquiries from stainless and alloy mills increased immediate buying, tightening prompt merchant availability.
- Lower container freight reduced landed costs but failed to offset firmer export offers and procurement.
- Stable import flows and manageable inventories limited downside, while downstream year-end schedules supported incremental demand.
Molybdenum Prices in APAC
- In Thailand, the Molybdenum Price Index rose by 6.9% quarter-over-quarter, reflecting import delays and automotive demand.
- The average Molybdenum price for the quarter was approximately USD 31604.00/MT, reflecting Laem Chabang settlements.
- Forward buying and port congestion pushed the Molybdenum Spot Price higher despite steady conversion capacity.
- Short-term Molybdenum Price Forecast stayed cautiously bullish due to restocking ahead of maintenance shutdowns underway.
- Freight and imported oxide replacement drove the Molybdenum Production Cost Trend, compressing downstream margins modestly.
- Robust automotive and alloy demand supports a positive Molybdenum Demand Outlook, offsetting softer construction-related offtake.
- Inventory replenishment and imports tempered the Molybdenum Price Index while origin discipline kept offers firm.
- Baht weakness, port congestion, and investor forward buying sustained short-term upward pressure on import procurement.
Why did the price of Molybdenum change in December 2025 in APAC?
- Chinese exporters diverted oxide for domestic alloy production, tightening seaborne availability into Thailand pre-Lunar New Year.
- Thai stainless and specialty mills built safety stocks for Q1 maintenance, increasing procurement and spot enquiries.
- Baht depreciation increased CFR landed costs while freight remained steady, reinforcing upward price bias for imports.
Molybdenum Prices in Europe
- In Russia, the Molybdenum Price Index rose by 2.36% quarter-over-quarter, reflecting tighter imports and reduced output.
- The average Molybdenum price for the quarter was approximately USD 31546.67/MT, amid persistently tight inventories.
- Molybdenum Spot Price firmed as freight inspections and Trans-Siberian bottlenecks reduced delivered availability, supporting premiums.
- Molybdenum Price Forecast indicates moderate early-quarter gains driven by restocking and persistent logistics constraints ahead.
- Molybdenum Production Cost Trend edged up because higher freight and maintenance expenses narrowed producer margins.
- Molybdenum Demand Outlook remains robust for export steel and tubular goods despite softer domestic construction.
- Molybdenum Price Index showed volatility as ruble movements and Chinese export allocations shifted supply dynamics.
- Inventories at Black Sea warehouses remained low while forward buying by exporters supported price resilience.
Why did the price of Molybdenum change in December 2025 in Europe?
- Delayed ocean arrivals and Black Sea inspections extended transit times, reducing prompt supply into Novorossiysk.
- Extended roaster maintenance lowered molybdenum oxide output, increasing reliance on imports and elevating landed costs.
- Ruble depreciation amplified dollar-denominated import prices, encouraging competitive buyer behavior and selective spot procurement delays.
For the Quarter Ending September 2025
North America
- In the USA, the Ferro-molybdenum Price Index rose by 4.46% quarter-over-quarter, driven by tariffs policy.
- The average Ferro-molybdenum price for the quarter was approximately USD 50016.33/MT, reflecting CFR San Diego.
- Ferro-molybdenum Spot Price firmed on limited spot availability and stronger Chinese export offers, pressuring importers.
- Ferro-molybdenum Price Forecast indicates gains into autumn as supply tightness competes with subdued domestic demand.
- Ferro-molybdenum Production Cost Trend remains elevated due to higher Chinese material and concentrate cost pressures.
- Ferro-molybdenum Demand Outlook is mixed with automotive restocking offsetting continued weakness in construction activity conditions.
- Ferro-molybdenum Price Index reflects tariff distortions elevating landed costs, constraining broader procurement and order sizes.
- Inventory levels remained lean among US importers, while Chinese smelter outages tightened available export cargoes.
Why did the price of Ferro-molybdenum change in September 2025 in North America?
- Tariff-inflated landed costs reduced purchasing, making import parity unsustainable and suppressing volume demand across sectors.
- Tight Chinese concentrate supply, smelter maintenance raised exporter offers, tightening availability for US CFR buyers.
- Elevated freight and logistics lengthened lead times, increasing landed costs and encouraging just-in-time purchasing behavior.
APAC
- In Thailand, the Ferro-molybdenum Price Index rose by 10.9837% quarter-over-quarter, driven by tighter Chinese supply.
- The average Ferro-molybdenum price for the quarter was approximately USD 29558.67/MT, CFR Laem Chabang landed cost.
- Ferro-molybdenum Spot Price tightened as Chinese export offers firmed and Thai buyers accelerated deliveries ahead.
- Ferro-molybdenum Price Forecast shows near-term gains supported by robust domestic steel demand and constrained concentrate availability.
- Ferro-molybdenum Production Cost Trend remains elevated due to higher molybdenum concentrate costs and rising freight charges.
- Ferro-molybdenum Demand Outlook stays positive as Thailand’s construction and alloy steel recovery sustain intake requirements.
- Inventory draws and term buying pushed the Ferro-molybdenum Price Index higher despite occasional short-term import arrivals.
- Chinese smelter outages and environmental controls intermittently constrained exports, tightening regional availability and elevating landed acquisition costs.
Why did the price of Ferro-molybdenum change in September 2025 in APAC?
- Supply disruptions in China reduced concentrate availability, pressuring exporters to raise offers and limit spot volumes.
- Stronger Thai manufacturing demand and construction-driven alloy steel orders forced importers to absorb higher landed costs.
- Currency moves and rising freight costs increased CFR landed prices, reinforcing upward domestic price transmission.
Europe
- In Russia, the Ferro-molybdenum Price Index rose by 8.6486% quarter-over-quarter, driven by Chinese export costs.
- The average Ferro-molybdenum price for the quarter was approximately USD 30820.00/MT, reported under CFR Novorossiysk terms.
- Ferro-molybdenum Spot Price strength reflected constrained Chinese feedstock availability, lifting the Price Index and margins.
- Ferro-molybdenum Price Forecast remains cautiously upward as Ferro-molybdenum Production Cost Trend shows persistent molybdenum concentrate inflation.
- Ferro-molybdenum Demand Outlook is weak domestically; Price Index stays elevated due to limited supplier alternatives.
- Inventory levels in Russia moderating purchases, export demand competition keeps landed costs supported for importers.
- Major Chinese smelter maintenance reduced cargoes, tightening seaborne supply and sustaining higher CFR offer levels.
- Geopolitical trade disruptions concentrated sourcing, increasing buyer dependency on China and strengthening supplier pricing power materially.
Why did the price of Ferromolybdenum change in September 2025 in Europe?
- Chinese feedstock shortages and smelter outages reduced export availability, pushing CFR levels higher for Russian buyers.
- Geopolitical trade restrictions concentrated sourcing, limiting alternatives and compelling importers to accept elevated landed prices.
- Weak domestic demand reduced purchasing, but urgent production continuity needs-maintained import flows despite higher costs.
For the Quarter Ending June 2025
North America
- The Molybdenum Spot Price Index in North America decreased by 3.4% quarter-over-quarter in Q2 2025, driven by sluggish domestic demand and inflated landed costs due to the continued imposition of a 50% tariff under Section 232.
- The Molybdenum Production Cost Trend was dominated by Chinese upstream inflation, with high raw material costs being passed through to U.S. importers. However, tariff burdens—not producer prices—remained the primary driver of the final cost in the U.S. market.
- The Molybdenum Demand Outlook in the U.S. stayed weak, weighed down by a 14.4% collapse in automotive sales and a 0.3% drop in total construction spending in June. Private residential construction fell 0.8%, reinforcing cautious procurement behaviour.
Why did the price of Molybdenum remain stable in July 2025 in North America?
- The Molybdenum Spot Price in July 2025 held broadly stable compared to June. Despite cost pressures at the export origin (China), the U.S. market remained oversupplied due to weak industrial demand. Buyers continued to restrict purchases to short-term needs amid high landed costs and contracting steel consumption. The Molybdenum Price Forecast remains flat, with minimal upside unless demand recovers or tariffs are revised.
APAC (Thailand)
- The Molybdenum Spot Price Index in Thailand declined by 7.9% quarter-over-quarter in Q2 2025. Despite a 3.5% price uptick in June, earlier soft prices in April and May pulled the quarterly average down.
- The Molybdenum Production Cost Trend remained elevated in China, Thailand’s main supplier, due to upstream raw material scarcity, tight smelter margins, and high logistics costs under CFR terms. Planned mine shutdowns and stricter environmental regulations further constrained supply.
- The Molybdenum Demand Outlook improved in Q2, led by strong factory output growth and a significant rise in new orders in June. However, steelmakers remained cautious amid falling global steel prices and limited margin recovery.
Why did the price of Molybdenum change in July 2025 in APAC?
- The Molybdenum Spot Price in July 2025 is expected to stabilize or ease slightly, following the June supply pinch. Concentrate availability in China began recovering toward the end of June, easing raw material tightness. Meanwhile, Thai buyers, having absorbed elevated landed prices in June, are now cautiously watching for softening freight rates. The Molybdenum Price Forecast suggests mild downward pressure in the near term unless domestic steel demand rebounds sharply.
Europe (Russia)
- The Molybdenum Spot Price Index in Russia declined by 2.1% quarter-over-quarter in Q2 2025, despite a notable 3.5% increase in June. The increase reflects cost inflation from China rather than Russian market strength.
- The Molybdenum Production Cost Trend was shaped by upstream tightness in China due to environmental inspections and Mines maintenance. Russian buyers, with limited supplier options due to Western trade disruptions, had no choice but to absorb the higher CFR prices passed on by Chinese exporters.
- The Molybdenum Demand Outlook remained bleak. Domestic manufacturing showed its sharpest decline in over three years, with new orders falling rapidly and firms aggressively cutting inventories and employment.
Why did the price of Molybdenum change in July 2025 Europe?
- The Molybdenum Spot Price in July 2025 is likely to remain elevated or soften marginally, as June’s spike was driven by Chinese cost pass-through amid limited alternatives for Russian importers. However, collapsing domestic demand and aggressive inventory drawdowns provide no support for sustained price increases. The Molybdenum Price Forecast remains fragile and largely supply-side driven, with little room for upside unless geopolitical dependencies force continued import reliance.
