Today's observation 6-25: The terminal demand is considerable, the total amount of steel is over 10,000 tons

[Some large steel companies raise the price of molybdenum-containing steel]

As the price of molybdenum rises sharply, the cost of downstream stainless steel products also increases. Recently, some large steel companies have raised their molybdenum-containing steel quotations, and the cost of upstream raw materials has been steadily transmitted downward.

It is understood that Jiangsu, Hubei, Sichuan and other large steel companies have recently raised their quotations for molybdenum-containing stainless steels, adding about 600 yuan for every 1% of molybdenum in stainless steel.

[The price of molybdenum concentrate is stable by bidding for large domestic mines]

Yesterday, a domestic mining enterprise in Henan bid for the sale of 210 tons of molybdenum concentrate, with a grade of about 47%, and the transaction price was 2300-2305 yuan per ton of cash. The bidding schedule is relatively urgent. The bidding documents are issued in the morning and the bidding will start in the afternoon. The first two batches of molybdenum concentrates are sold at the reserve price. The historical inventory of some molybdenum concentrate trading companies in Henan is gradually depleting. With the announcement of the results of the tender, molybdenum concentrate holding companies are cautiously selling.

[In June, the total amount of ferromolybdenum recruited by steel exceeded 10,000 tons]

Yesterday, a large domestic steel company in Zhejiang bid for the purchase of ferromolybdenum. The bid price was announced as 150,000 yuan per basis ton in cash, with a total transaction volume of 900 tons, and the delivery date was at the end of July. As of today, the total amount of ferro-molybdenum in June has reached 10,632 tons. The downstream demand for ferromolybdenum is considerable, and the total amount of steel demand has reached more than 10,000 tons for three consecutive months.

[The international molybdenum market is relatively calm]

After a wave of sharp increases in molybdenum prices, international molybdenum prices are trading sideways at high levels. Recently, the international molybdenum market has been quiet, and both buyers and sellers are standing still. The selling price of the molybdenum oxide market in Busan Port is around US$19 per pound of molybdenum, but the transaction is difficult to reach. Domestic molybdenum enterprises have reached a small amount of orders for exporting ferromolybdenum to the port of Rotterdam in Europe, at a price of about US$42/kg molybdenum. Domestic supply fills up the shortfall in ferromolybdenum in European ports.

[I think]

Recently, the price of molybdenum raw materials has fallen, and the transactions of some stocks of molybdenum raw materials have gradually started. With the support of terminal demand, the price of molybdenum will not fluctuate greatly in the short term.