Today's observation 7-16: Molybdenum market rebounds slightly Steel tender is the key

Today's observation 7-16: Steel bid prices restrict the molybdenum market rebound

　　 Today's mainstream quotations for ferromolybdenum are 86-90 thousand yuan/tonne; 45-50 grade molybdenum concentrate is 1220-1240 yuan/ton degree; 50-55 grade molybdenum concentrate is 1240-1260 yuan/ton degree.

　　[Mining companies have overstocked inventory and expect price rebound]

　　 Recently, there are molybdenum resource mines in Jilin, Henan and other regions trying to inquire about the sale of molybdenum concentrate. Due to the unsatisfactory price, no transaction has been reached.

　　The price of molybdenum is weak, the production of large-scale mining enterprises is running well, and the inventory fluctuates normally and orderly.

　　【Steel stroke ferromolybdenum transaction price is not high】

　　 Yesterday, a steel plant in Inner Mongolia tendered for the purchase of 60 tons of ferro-molybdenum, and the tender price was announced at 84,000 yuan per ton (acceptance).

　　 The last time the steel company purchased ferro-molybdenum, the price was limited to 86,000 yuan/basis ton, the highest price. As a result, the bid fell and no one supplied it.

　　Zhejiang No.1 Steel Plant tendered for the purchase of ferro-molybdenum, the price was announced to be 83,000 yuan/base ton (acceptance)

　　 The bidding price of steel enterprises is not high, and the market's expectations for the market outlook are weak.

　　【Molybdenum oxide in Busan Port, South Korea has a higher transaction price】

　　 Yesterday, South Korea’s Busan Port had a transaction of molybdenum oxide at a maximum of US$7.45 per pound of molybdenum.

　　 China is still the world's largest consumer of molybdenum metal. For some time, there has been a price difference between domestic and foreign molybdenum products, and the import volume has increased.

It remains to be seen whether the phenomenon that the price of molybdenum oxide in foreign countries is higher than that in China will continue.

　　 [I think it is on my website]

　　 Recently, there have been more factors affecting molybdenum prices, and market fluctuations have accelerated.

　　 There are signs of stabilization in the molybdenum market, but the higher total amount of imported molybdenum raw materials and the uncertainty of terminal demand will restrict the height of the rebound in molybdenum prices. The recent low bidding prices of steel companies will suppress the enthusiasm of ferromolybdenum companies to supplement raw materials.