Molybdenum Oxide Prices Rise Across Asia and Europe
Global molybdenum oxide prices climbed this week in Busan, Tianjin, Rotterdam and China's FOB market as buyers returned to restock.
Updated on Nov. 6, 2026 in Stock Markets
SMM assessed 57% molybdenum oxide in Busan warehouses at $33.50-33.75/lb Mo on November 6, with the Busan average at $33.63/lb Mo, up $0.75/lb Mo from the previous Friday. Chinese steel mills also raised ferromolybdenum tender awards above 330,000 yuan/mt.
Why it matters
Delayed orders and restocking demand followed a rapid price fall in late October, and buyers shifted from waiting for lower prices to securing material at rising levels. Concerns over future availability, including annual contract talks in Asia and high freight costs limiting cross-regional supply, have strengthened the market.
SMM's 45% molybdenum concentrate average rose from 5,165 yuan/mtu to 5,295 yuan/mtu between October 30 and November 6, while domestic molybdenum oxide rose from 5,275 to 5,405 yuan/mtu. Trades were reported at $34.40/lb Mo in Europe and $34.10/lb Mo in Busan, though the stub does not say how long these levels will hold.
The details
Rotterdam warehouse prices rose to $33.55-33.90/lb Mo, and trades were concluded around $34/lb Mo during the recent International Molybdenum Association meeting. European ferromolybdenum spot supply remained severely constrained, and high freight costs from Asia limited replenishment into the region.
Timeline
- October 30, 2026: Weekly comparison period for China molybdenum prices began.
- Late October 2026: Molybdenum prices fell rapidly before the recent rebound.
- November 6, 2026: SMM assessed molybdenum oxide prices in Busan, Tianjin and Rotterdam.
- Late November 2026: Europe is expected to enter annual contract negotiations.
- 2027: Output at several major mines could decline.
Market Dynamics
The rise in SMM's weekly molybdenum oxide assessments reverses the sharp late-October decline in Busan, Tianjin and Rotterdam. Firm Asian contract signings and tight European ferromolybdenum supply could keep prices elevated if these conditions continue.
Investors tracking molybdenum exposure may see price levels around $33-34/lb Mo shift as contract talks begin. Market participants should watch whether European supply remains constrained as negotiations proceed.
The takeaway
Global molybdenum oxide prices have turned higher as delayed restocking meets tight supply in Asia and Europe. Watch the upcoming contract negotiations for signals on whether the rebound holds into 2027.
What happens next
Europe will gradually enter annual contract negotiations toward the end of November 2026.
Further reading
Explore more Stock Markets coverage for context on commodity price movements.
Source note: This article includes information reported by Metal.
