Steady demand, China's ferromolybdenum performance is not weak | Molybdenum Market Daily Review

Changes in Molybdenum City:

Constrained by the persistent low stalemate of domestic and international ferromolybdenum transaction prices, the transaction prices of international molybdenum oxide and domestic molybdenum concentrates loosened and fell slightly this week. The pullback of raw material prices has aroused the attention of the molybdenum market once again, and also brought more steel mills to purchase ferromolybdenum.

According to statistics from Tungsten and Molybdenum Cloud Merchants, online bidding for 45-50% grade molybdenum concentrates from Henan area molybdenum mines yesterday set a price of 1,750--1760 yuan/ton degree, which was lower than the previous transaction price of 1,765--1795 yuan/ton degree. Bidding entry:

Since yesterday, many steel mills in Hunan, Jiangsu, Zhejiang, Gansu and other regions have entered the site to bid for ferromolybdenum. Large steel companies in Jiangsu and Hubei also indicated that they will soon enter the site to start purchasing. The city is strongly concerned.

According to statistics from the tungsten and molybdenum cloud business, as of noon on March 11, the total amount of ferro-molybdenum from the sample steel enterprises in March exceeded 4,000 tons. According to the entry plan of other steel mills, it is expected that this amount is expected to exceed 5,000 tons by Friday afternoon. Opening price:

Since the beginning of this week, the bidding price of ferromolybdenum has been varied. Some steel companies in Tianjin and Shanxi opened lower-than-expected transactions at the acceptance of 11.25-112.9 thousand yuan at the beginning of the week, as well as batch purchases of 113,500 yuan in cash from Qingshan Group, as well as Liaoning and Hunan since yesterday. The bid opening of regional steel enterprises is at the acceptance level of 114-115 thousand yuan.

Judging from the bid opening price, since the beginning of this week, although many steel companies have tried to lower the purchase price of ferromolybdenum, ferromolybdenum manufacturers have been reluctant to sell at low prices and have increased their awareness of raising prices. This is mainly due to the high cost of raw material procurement in the early stage and the expectations of most manufacturers in the future. The city's optimism is mostly affected. The comparison found that since the end of February, with the exception of some steel companies’ bid opening prices which were slightly lower than the mainstream market level, most steel mills’ purchase prices have been within the acceptance range of 114-115 thousand yuan. Although they have not followed the rise in raw material ore prices, they have not been affected. The emotional impact really fell.

Summary of Molybdenum City:

Comprehensive analysis shows that ferromolybdenum has remained stable at the current price and still has support. Under the influence of the continued increase in the number of purchases by steel companies in the later period, the difficulty of purchasing ferromolybdenum at low prices will further increase, and the ferromolybdenum market is expected to continue to maintain its performance.