4-7: Temporarily stable operation of the international market

The overnight international molybdenum oxide is 11.1-11.2 US dollars/lb molybdenum, which is equivalent to the domestic price of 1811-1827 yuan/tonne; European ferromolybdenum (+0.1) is 26.9-27.3 US dollars/kg of molybdenum, which is equivalent to the domestic price of 11.95-12.12 yuan/basis ton.

International molybdenum prices have experienced a bottoming out at US$10.7 per pound of molybdenum and started to slow down at US$11.2 per pound. International molybdenum production did not decrease in the first quarter, and international demand slowly recovered. In the case of a large reduction in China's imports, the pressure of oversupply in the molybdenum market has narrowed the upward space. In the near future, the second quarter of the terminal purchase time, European demand performance is acceptable, the price of ferromolybdenum in Europe is repaired, and there is some support under the price.

Yesterday, a small amount of transactions were reached at Busan Port at US$11.15 per pound of molybdenum and US$11.2 per pound of molybdenum; a small deal was reached in Rotterdam at US$11.25 per pound of molybdenum, and a small deal was reached in molybdenum oxide balls at US$11.35 per pound of molybdenum.

An international trader said that the current situation in Europe is still relatively stable, and the possibility of a decline in a short period of time is small. It is currently the second quarter procurement node of steel mills. The price of ferromolybdenum is supported to a certain extent, and the demand is stable at US$27/kg. The performance is pretty good.