Molybdenum market update on November 25, 2025
The domestic molybdenum market continues to operate weakly overall, with a strong bearish atmosphere and limited bullish support, causing many suppliers to show slightly insufficient confidence in maintaining prices. Today, ferromolybdenum and molybdenum oxide prices decreased by approximately RMB 1,000/ton and RMB 20 per tonne-degree respectively, while molybdenum concentrate prices consolidated around RMB 3,700 per tonne-degree.
From the perspective of bullish factors, first, affected by intensified environmental protection measures, high energy prices and relatively low current molybdenum product prices, some molybdenum manufacturers have voluntarily slowed production pace, and the decline in molybdenum mine grades has further restricted growth in spot market supply; second, stimulated by low molybdenum prices, downstream users have shown a slight increase in inquiry and procurement enthusiasm; third, the molybdenum downstream industries such as aerospace, military defense and new energy are developing well, which is expected to drive an increase in market demand for molybdenum products.
From the perspective of bearish factors, first, under the continuous decline in recent molybdenum product prices, traders’ wait-and-see sentiment of “buy on rise, not on fall” has intensified, resulting in low market transaction volume; second, steel mill tender prices continue to weaken, causing downward pressure on molybdenum product prices; third, the soft international molybdenum market has restricted the recovery of the domestic molybdenum market.
On the news front, data from the China Iron and Steel Association show that in mid-November, social inventory of the five major steel varieties in 21 cities totaled 8.71 million tonnes, decreased by 220,000 tonnes month-on-month or 2.5%, showing a continuous declining trend; it increased by 2.12 million tonnes from the beginning of the year, up 32.2%; and increased by 1.87 million tonnes year-on-year, up 27.3%. It is worth noting that the social inventory of all five major steel varieties decreased to varying degrees month-on-month, with rebar showing the largest reduction in both volume and percentage; year-on-year, inventories of all varieties increased, with rebar recording the largest volume increase and wire rod showing the highest percentage increase.
Price of molybdenum products on November 25, 2025
Images of molybdenum bar
