Molybdenum concentrate prices fell sharply.
Since the end of last week, along with the weak situation of molybdenum downstream demand in terms of quantity and price, the profit at the molybdenum ore end was compressed again, and the mainstream price of transaction came to 3200-3400 yuan/tonne degree, with the total amount above 500 tons. On the one hand, the middle and lower reaches of the industry chain continued to reduce production, molybdenum raw material transactions slowed down, mine inventory gradually increased, the buyer’s market, molybdenum concentrate transaction prices moved down significantly. On the other hand, the nearly “cut” molybdenum price, the speed of the fall, the fall is large, smacking, downstream purchases are mostly by order, with the slow increase in steel recruitment, market inquiries began to increase last weekend, molybdenum concentrate transactions also unfolded.
The activity of ferromolybdenum market has slightly increased.
As of today, the total amount of ferromolybdenum tendered by mainstream steel mills is about 6,400 tons. Mainstream iron mills offer between 21-21.5 million yuan/base ton. Last Friday, a steel mill in Shanxi opened a tender price of 215,000 yuan / base ton, the actual tender volume to be counted, bulk goods in about 210,000 yuan / base ton some transactions reached, steel prices continue to dip, this week is the last week of the month, expect ferromolybdenum recruitment than last week some more.
