Molybdenum market update on April 29, 2026
The domestic molybdenum market is generally showing a strong upward trend. With continued price increases driven by molybdenum mining companies' shipments and a reasonable level of procurement enthusiasm from downstream users, the prices of molybdenum concentrate and molybdenum oxide have both risen slightly to RMB 4,760/ton-degree and RMB 4,860/ton-degree, respectively. According to CTIA GROUP, factors such as high production costs, stricter environmental policies, limited availability of market spot inventory, and limited future raw material supply increases all contribute to suppliers' strong confidence in holding back sales and supporting prices. Additionally, as the May Day holiday approaches, some downstream companies have begun to stock up in advance, effectively boosting market demand and driving up molybdenum prices.
In terms of news, data from the China Iron and Steel Association (CISA) shows that in mid-April 2026, the steel inventory of key statistical steel enterprises reached 18.63 million tons, an increase of 1.12 million tons (6.4%) compared to the previous period. This represents an increase of 4.49 million tons (31.8%) compared to the beginning of the year, a rise of 720,000 tons (4.0%) from the same period last month, an increase of 1.92 million tons (11.5%) compared to the same period last year, and an increase of 510,000 tons (2.8%) compared to the same period two years ago. By region, steel inventories in Northeast China increased by 190,000 tons, in North China by 90,000 tons, in East China by 490,000 tons, in Central and South China by 390,000 tons, while steel inventories in Northwest China decreased by 50,000 tons, and in Southwest China, steel inventories remained largely unchanged compared to the previous period.
Price of molybdenum products on April 29, 2026
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