On April 17, SMM reported that a major Indonesian stainless steel mill increased the price gap between 304 and 316L series from $1,800/mt to $1,850/mt. The widening spread is driven by the soaring price of molybdenum, a key element in 316L. Research indicates that molybdenum concentrate supply remains tight due to aging mining equipment, environmental production curbs, and export restrictions in major producing countries. Simultaneously, surging demand from aerospace and defense industries has further pushed up molybdenum product prices. Additionally, Indonesia's new nickel pricing formula and geopolitical risks have collectively raised the overall cost benchmark for the 300-series.

[Molybdenum Concentrate Transaction Information] SMM April 7: On April 7, a mine in Jiangxi sold 40%-45% grade molybdenum concentrates (average copper 2.101%, average phosphorus 0.072%) at a transaction price of 4,525 yuan/mtu, with a bidding floor price of 4,430 yuan/mtu, 35% cash and 65% bank acceptance, volume to be tallied.

[Molybdenum Concentrate Auction Information] SMM, April 7: A mine in Luoyang plans to sell 810 mt of molybdenum concentrate via online tender on April 8, with a starting bid of 4,430 yuan/mtu (cash).

Yankuang Energy stated at its 2025 annual results briefing that, according to the feasibility study report prepared by Changsha Engineering & Research Institute Ltd. of Nonferrous Metallurgy, Xinghe Molybdenum (Caosiyao Molybdenum Mine) is located in Xinghe County, Ulanqab City, Inner Mongolia Autonomous Region, and has molybdenum ore resources of 1.04 billion mt, metal content of 1.089 million mt, an average grade of 0.105%, and associated metals including tungsten and zinc. The designed capacity is 16.5 million mt/year of raw ore, and annual molybdenum concentrate production will reach 30,800 mt/year upon reaching full production. In February 2026, it was issued the electronic certificate for a mining license with an annual mining scale of 16.5 million mt, and construction is expected to commence in H2 2026, with a construction period of 1.5-2 years.

[Molybdenum Concentrate Import and Export Information] SMM News, March 20: In February 2026, China imported 4,572 mt of molybdenum concentrate (physical content), down 13.03% YoY and 1.82% MoM. Cumulative imports of molybdenum concentrate in January-February totaled 9,230 mt (physical content), down 13.88% YoY. In February 2026, China exported 558 mt of molybdenum concentrate (physical content), down 46.01% YoY and up 160.72% MoM. Cumulative exports of molybdenum concentrate in January-February reached 772 mt (physical content), down 46.01% YoY;

According to SMM, on March 4, an Indonesian major stainless steel mill raised its 316L export quotation by USD 100/mt, pushing the price spread between 316L and 304 to USD 1,800/mt. This sharp increase is driven by a rallying molybdenum market: while domestic mines have begun concentrated shipments, molybdenum concentrate transaction prices continue to trend upward. The entire industry chain currently exhibits firm raw material prices and cost-driven pressure, with downstream demand gradually following suit. Strong cost support from the ferromolybdenum market has led to this significant price divergence.

[Transaction Information on Molybdenum Concentrates] SMM News on March 4: A molybdenum concentrates enterprise in Jiangxi sold 40%–45% molybdenum concentrates, with copper averaging 1.985% and phosphorus averaging 0.068%. The transaction price was 4,450 yuan/mtu, with a bidding floor price of 4,410 yuan/mtu. Payment terms were 35% cash and 65% acceptance, and the volume was 320 mt.

[Molybdenum Concentrate Tender Information] SMM February 25: A mine in Henan is expected to tender 810 mt of molybdenum concentrate on the morning of February 26, with a grade above 45%, at a reserve price of 4,200 yuan/mtu cash.

SMM, February 24: During the holiday period, trading in the domestic molybdenum market was scarce, and the market entered a closed state. The international molybdenum oxide price surged and then retreated. Before the holiday, stimulated by the sudden accident at a U.S. molybdenum enterprise and the earlier production cut news from Chilean copper-molybdenum mines, the international molybdenum oxide price briefly hit a high of 36 USD/lb Mo.

[ SMM Molybdenum Daily Review: Overseas Molybdenum Market Rose, Coupled With Increased Stocking Demand From Domestic Steel Mills, Molybdenum Market Increased ] SMM February 4 News: Today, the domestic molybdenum market rebounded slightly. The international molybdenum oxide market held up well, boosting domestic market sentiment. On February 3, a mine in Yunnan auctioned molybdenum concentrate, with the final transaction price rising to 4,115 yuan/mtu, driving up the center of spot order negotiations in the domestic market. Today, prices of major domestic molybdenum products, including molybdenum concentrate, ferromolybdenum, and molybdenum chemicals, generally rose, and market trading sentiment was active.