Molybdenum market update on October 23, 2025
Domestic molybdenum prices overall continue to slide, with prices of molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate decreasing by approximately RMB 50 per ton-unit, RMB 2,000 per ton, and RMB 1,000 per ton, respectively. Against this backdrop, the enthusiasm of downstream users for inquiries and procurement has not significantly increased, resulting in persistently slow order growth.
From the perspective of bullish factors, firstly, the dual impact of high energy prices and increasingly stringent environmental policies has slowed the capacity release of some molybdenum manufacturers; secondly, the rapid development of molybdenum downstream industries such as new energy, military, and semiconductors is expected to drive an increase in demand for molybdenum products; thirdly, the declining ore grades at domestic and international mines are likely to limit future supply growth in the molybdenum market.
From the perspective of bearish factors, firstly, steel companies continue to exert downward pressure on ferromolybdenum prices, leading manufacturers to lower their quotes; secondly, with molybdenum raw material prices still at a relatively high level, suppliers remain highly proactive in shipping goods; thirdly, the ongoing cooling of the international molybdenum market in recent days is unfavorable for stabilizing the domestic molybdenum market.
In terms of news, according to monitoring by the Steel Association, in September 2025, the average China Steel Price Index (CSPI) was 93.17 points, decreased by 1.74% month-on-month, but increased by 2.10% year-on-year; among these, the CSPI long products index averaged 93.72 points, decreased by 2.55% month-on-month, and decreased by 2.23% year-on-year, while the plate index averaged 92.32 points, decreased by 1.38% month-on-month, and increased by 5.24% year-on-year. As of the end of September 2025, the CSPI was 93.63 points, decreased by 0.41% month-on-month, down 3.94% compared to the end of last year, but increased by 0.84% year-on-year.
Price of molybdenum products on October 23, 2025
Yttrium molybdenum belt picture
