MOFCOM and GACC Announcement No. 55 of 2025: Decision to Implement Export Controls on Superhard Materials

[Issuing Unit] Security and Control Bureau

[Issuing Document Number] MOFCOM and GACC Announcement No. 55 of 2025

[Date of Issue] October 9, 2025

Molybdenum market update on October 11, 2025

The domestic molybdenum market overall continues to operate weakly, primarily reflected in obvious downward pressure on product prices, low enthusiasm among traders for market engagement, and limited actual transaction volumes. Today, the prices of molybdenum concentrate and molybdenum oxide both decreased by approximately 20 yuan per ton-unit.

On August 29, 2025, JDC (JinDuiCheng) and Zijin Mining Group Co., Ltd. signed a "Letter of Intent," reaching a preliminary agreement to jointly develop the Shapigou Molybdenum Mine in Jinzhai, Anhui Province.

According to the official website of the Hubei Provincial Department of Natural Resources, in August 2025, the average price of 65% white tungsten concentrate in Hubei was 209,286 yuan per ton, increased by approximately 16.83% month-on-month, increased by approximately 56.46% year-on-year; the average price of 60% white tungsten concentrate was 208,619 yuan per ton, increased by approximately 16.79% month-on-month, increased by approximately 57.14% year-on-year; the average price of APT (ammonium paratungstate) was 308,738 yuan per ton, increased by approximately 17.19% month-on-month, increased by approximately 54.07% year-on-year; and the average price of tungsten carbide powder was 459,976 yuan per ton, increased by approximately 19.67% month-on-month, increased by approximately 54.80% year-on-year.

Analysis of Latest Tungsten Market from Chinatungsten Online

Recently, tungsten industry organizations and several representative tungsten companies have released tungsten raw material price quotes. Minor adjustments in some areas do not mask overall market stability, and the tungsten market is generally stable. 

Molybdenum market update on October 10, 2025

The domestic molybdenum market overall maintains a firm operation, with low consumer enthusiasm among downstream users and strong reluctance among suppliers to lower prices, resulting in low market trading activity, no significant changes in product prices, and limited actual transaction volumes. Currently, traders are awaiting guidance from the next round of steel bidding prices.

Analysis of Latest Tungsten Market from Chinatungsten Online

Tungsten prices remain under overall pressure, and a new round of downward price guidance from tungsten companies has had a certain impact on industry confidence. However, MOFCOM has intensively implemented export control policies for rare earths, superhard materials, lithium batteries, and artificial graphite anode materials, enhancing the strategic value of key minerals, which has had a certain impact on the tungsten industry.

Molybdenum market update on October 9, 2025

On the first trading day after the National Day holiday, domestic molybdenum prices overall continued the downward trend from before the holiday, mainly due to many downstream users not yet resuming normal procurement rhythms and insufficient confidence among suppliers in stabilizing prices.

Analysis of Latest Tungsten Market from Chinatungsten Online

On the first trading day after the National Day holiday, the tungsten market was dominated by cautious wait-and-see sentiment, with limited actual transactions. Tungsten product prices remained stable for the time being, with industry players awaiting guidance from a new round of long-term orders from large tungsten companies.

On September 28, 2025, the Ministry of Industry and Information Technology and eight other departments issued a notice on the "Work Plan for Stabilizing Growth in the Non-Ferrous Metal Industry (2025–2026)" ("Work Plan"). The plan proposes that from 2025 to 2026, the added value of the non-ferrous metal industry will grow by approximately 5% annually, maintaining a positive economic trend. The output of ten major non-ferrous metals will increase by about 1.5% annually, with active progress in domestic resource development for copper, aluminum, lithium, and others. Recycled metal production will exceed 20 million tons, the supply capacity for high-end products will continuously strengthen, and green, low-carbon, and digital development levels will steadily improve. The "Work Plan" covers the tungsten and rare earth sectors.