Molybdenum prices averaged USD 59,557 per metric ton in October, up 7.7% from September. On 31 October, the commodity traded at USD 60,253 per metric ton, up 1.2% from 30 September.
In October, prices averaged the highest in over two years. Demand optimism was likely an important driver, thanks to U.S.-China trade truce talks and U.S. interest rate cuts. Moreover, supply was likely restricted by multiple disruptions at copper mine operations in recent months; much molybdenum is a byproduct of copper output.
This chart displays Molybdenum (US$/mt) from 2023 to 2025.
Molybdenum (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Molybdenum | - | - | - | 49,477 | 42,668 | 44,093 | 44,093 | 47,800 | 51,318 | 44,959 | 50,155 | - |