[SMM Analysis] Global Molybdenum Market Sees Fundamental Shift in 2025, with Bullish Outlook for 2026

The global molybdenum market has been on quite the ride! After a tumultuous 2025 marked by significant swings, experts are now eyeing an intriguing bullish outlook for 2026. If you’re involved in industrial metals or just curious about what drives commodity prices, molybdenum’s recent performance offers a fascinating case study.

2025: A Year of Peaks and Pullbacks

According to SMM analysis from December 29th, 2025 was a roller coaster for molybdenum. The year broadly saw an initial strong rally, followed by a notable pullback, creating a dynamic and often unpredictable trading environment.

The first three quarters of 2025 were particularly bullish. Molybdenum prices soared, primarily fueled by two critical factors: persistent tight supply across the market and the metal’s increasingly recognized strategic importance in various high-tech and industrial applications. This combination propelled prices to unprecedented levels.

• 45% Molybdenum Concentrate: Witnessed an astonishing surge, hitting a record high of 4,600 CNY/ton-unit in early September 2025.
• Ferromolybdenum: Not to be outdone, ferromolybdenum prices also reached their zenith, peaking at an impressive 293,000 CNY/ton during the same period.

These figures highlight a period of intense demand and limited availability, pushing a vital industrial metal into the spotlight. While the initial rally eventually gave way to a pullback, the underlying drivers and the strategic significance of molybdenum continue to shape expectations for the coming year.

What does this mean for 2026? With a fundamental shift observed in 2025, the stage is set for what many analysts predict will be a bullish year ahead. Stay tuned as we delve deeper into the factors that could influence molybdenum’s trajectory!

Source: Original Article