# Molybdenum: Trading

From producer prices to agency assessments

Source page: https://www.materialinsights.org/commodities/molybdenum/trading/

What this tab covers How and where it is bought and sold: who buys and sells, exchanges and benchmarks, contract types, the big trading houses and how prices are discovered.

Molybdenum was long sold at producer prices, like nickel and aluminium (Tilton & Guzmán). Today it trades on negotiated contracts referenced to agency assessments of molybdic oxide and ferromolybdenum, from Argus, Fastmarkets and Platts. The LME ran a molybdenum contract for some years, but it never gained much liquidity. Large copper miners are major sellers: Codelco and Freeport were among the leading molybdenum producers in 2013 (Tilton & Guzmán). Roasters, which turn concentrate into oxide, sit at the centre of the trade.

#### Where it is bought (buyers)

- Steel and stainless mills in China, Europe, Japan, Korea and India buy ferromolybdenum and oxide
- Roasters in Chile, the Netherlands, Korea and China import concentrate (UN Comtrade 2024)
- Catalyst makers buy molybdate chemicals

#### Where it is sold (sellers)

- Chile 27.3%, Peru 22.5% and the US 18.1% of world ore and concentrate exports by value in 2024 (UN Comtrade)
- Copper miners (Codelco, Freeport, Southern Copper, Antofagasta) sell concentrate or roast it
- CMOC and other Chinese primary miners sell mainly in China

#### Exchanges and benchmarks

| Venue | Contract | Notes |
|---|---|---|
| **No liquid futures market** | Physical oxide and ferromolybdenum trade bilaterally | An LME contract launched in 2010 (Radetzki and Warell); physical trade relies on price reporting agencies |

#### Contract types

- Concentrate and oxide priced at a discount or premium to the published oxide price
- Monthly and quarterly ferromolybdenum contracts with steel mills
- Tolling agreements with roasters

#### Top trading houses

- Specialist minor-metals traders and producer sales arms; no dominant trading house is named in the sources used

#### How prices are discovered

- Argus molybdic oxide price (used by USGS)
- Fastmarkets oxide and ferromolybdenum assessments
- Asian Metal and SMM for Chinese prices

## Other sections

- [Summary](https://www.materialinsights.org/commodities/molybdenum/index.md)
- [Overview](https://www.materialinsights.org/commodities/molybdenum/overview/index.md)
- [Correlation](https://www.materialinsights.org/commodities/molybdenum/correlation/index.md)
- [Extraction](https://www.materialinsights.org/commodities/molybdenum/extraction/index.md)
- [Production](https://www.materialinsights.org/commodities/molybdenum/production/index.md)
- [Stocks](https://www.materialinsights.org/commodities/molybdenum/stocks/index.md)
- [Cycles](https://www.materialinsights.org/commodities/molybdenum/cycles/index.md)
- [Movement](https://www.materialinsights.org/commodities/molybdenum/movement/index.md)
- [Criticality](https://www.materialinsights.org/commodities/molybdenum/criticality/index.md)
- [Characteristics](https://www.materialinsights.org/commodities/molybdenum/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/commodities/molybdenum/emissions/index.md)
- [Relationships](https://www.materialinsights.org/commodities/molybdenum/links/index.md)