International molybdenum price sideways rest

 

From Wednesday to Thursday, international market transactions were light for two consecutive days, and international molybdenum product quotations were closed sideways.

 

The latest prices show that international molybdenum oxide offers 19.4-20.65 US dollars per pound of molybdenum, and European ferromolybdenum offers are 49-50 US dollars per kilogram of molybdenum, unchanged from the previous day.

 

The domestic molybdenum city bidding is stable

 

Recently, a number of steel mills have successively entered the site to bid for ferromolybdenum, and the mainstream bid opening prices have gradually risen to 156,000 to 159,000 yuan/ton.

So far, the total amount of ferromolybdenum tendered by steel mills in June is about 8,000 tons.

 

From the perspective of bidding volume and price performance, the consumption of ferromolybdenum is steady, and the purchase price of steel mills is gradually moving closer to the first line of 160,000 yuan.

 

There are other steel mills planning to enter the site next week. According to the estimation of the regular bidding situation, the total amount of ferromolybdenum bidding in June is expected to continue to exceed 10,000 tons.

 

Supply and demand fundamentals support molybdenum prices

 

Recently, affected by the obstacles of international molybdenum prices, traders in the domestic market have increased their willingness to ship goods, which has brought sentiment fluctuations to the market. From the perspective of market transactions, the spread of the transaction range has widened, reflecting the increase in market divergence and the increase in chasing high and avoiding suspicion.

 

Based on the analysis of supply and demand fundamentals, demand remains stable and unchanged. In June, just-needed entry transactions continued, which continued to support the molybdenum price.