Noon News 3-19: The domestic molybdenum market is deadlocked and the international molybdenum price continues to decline.

Today, the molybdenum concentrate market continues to be stalemate, and market demand, and some holders are still willing to ship goods in the near future. Due to the impact of the carbon neutral policy, some mines in Inner Mongolia have curtailed power production, and the recovery time has not yet been determined.

Today's mainstream quotation of ferromolybdenum is 113-116 million yuan per basis ton. As of today, the total amount of ferro-molybdenum from steel in March was 6,060 tons. A steel plant in Sichuan bid for ferromolybdenum, and the bid price has not yet been announced. Ferromolybdenum companies are optimistic about the market outlook, but are very worried about the recent cost inversion. There are few inquiries for ferromolybdenum bulk cargo, and traders wait and see.

Molybdenum Chemical

Molybdenum chemical market quotations remained stable as a whole. The mainstream quotation of ammonium molybdate was temporarily stable at 120,000 yuan/ton. The seller has no intention to adjust the quotation for the time being. The buyer is cautious and wait-and-see attitude is heavier. The psychological price has moved down slightly. The market transaction is light. The spot market is tight, the supply and demand sides are in a stalemate, and the overall weakness of the molybdenum chemical market is temporarily stable.

Molybdenum deep processing

The molybdenum deep processing market is showing a stable but weak pattern. The seller's quotation is stable. The buyer only purchases on demand and produces on order. The cautious hedging sentiment is strong. There is a big difference between the supply and the demand on the price, resulting in a deserted transaction and an overall active market. Degree needs to be further improved.

Molybdenum scrap

Today, the mainstream price of scrap molybdenum wire is 130-135 yuan/kg, and the mainstream price of waste molybdenum block is 155-160 yuan/kg. The scrap molybdenum market is deadlocked, and the transaction is difficult to reach effectively.

Molybdenum International

The international market still performed quietly this morning. As the international molybdenum price continues to decline, market sentiment has fluctuated, but the weak sentiment still exists. There is still downside for US$11.5/lb molybdenum, waiting for market buying.