Molybdenum prices averaged USD 78,816 per metric ton in September, up 10.3% from August. On 30 September, the commodity traded at USD 78,816 per metric ton, unchanged from 31 August.
Molybdenum prices rose for the 16th consecutive month in September, hitting an over three-year high. The rally was driven by tight supply and optimism around the potential use of molybdenum as a substitute for tungsten in AI chips. As a result, molybdenum has emerged as one of the best-performing base metals so far this year.
This chart displays Molybdenum (US$/mt) from 2024 to 2026.
Molybdenum (prices in US$/mt, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Molybdenum | - | - | - | 47,800 | 51,318 | 44,959 | 50,155 | 61,157 | 64,132 | 65,622 | 72,319 | - |