Molybdenum Intelligence Report

Molybdenum prices trade near 52-week highs at 602.50 CNY/kg, supported by Grasberg force majeure tightening byproduct copper-moly supply and active China export controls on critical minerals. The market is structurally tight with only 11 active moly mines globally and a copper byproduct supply shock removing significant units. Near-term headwinds from moderating steel demand in China are offset by aerospace, defense, and energy infrastructure consumption. Procurement strategy: maintain 45-60 day coverage, lock term contracts with 580 CNY/kg floor.