Molybdenum market update on April 28, 2026
The domestic molybdenum market remained in a stalemate at high levels, with intense price negotiations between buyers and sellers under the intertwining of various bullish and bearish factors. Product prices were relatively stable, and transactions were moderate.
From the positive factors, first, due to strong support from production costs and tightening raw material spot supply, molybdenum mining enterprises generally held a reluctant-to-sell attitude, leading to strong bullish sentiment in the market. Second, with the atmosphere surrounding the May Day holiday gradually intensifying, downstream users' stocking activity has increased. Third, recent international molybdenum market conditions have steadily warmed, which has played a role in driving up the domestic molybdenum market.
From the negative factors, first, the significant price increase in molybdenum products last week led downstream users to develop a fear of high prices, making their purchasing pace more cautious. Second, a wait-and-see atmosphere has spread in the market, with traders showing lower enthusiasm for operations, limiting market transaction activity and further constraining the upward potential of molybdenum prices.
In terms of news, data from the China Iron and Steel Association shows that by mid-April 2026, key steel enterprises produced a total of 20.15 million tons of steel, with an average daily output of 2.015 million tons, which increased by 3.1% compared to the previous period. By region, the Northeast region's daily steel output increased by 21,000 tons, the North China region's daily steel output increased by 22,000 tons, the East China region's daily steel output increased by 9,000 tons, the Central-South region's daily steel output increased by 10,000 tons, the Northwest region's daily steel output remained largely unchanged from the previous period, and the Southwest region's daily steel output decreased by 2,000 tons.
Price of molybdenum products on April 28, 2026
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