Molybdenum concentrate prices rose rapidly into August
Since the middle of July, Yuntong and Longyu have delivered goods one after another. The price of raw materials has risen slightly again, standing at 3900 line. Concentrate is still in a tight in stock near the end of the month. Concentrate has exceeded 4000 yuan/ton, igniting the market. The price of raw materials has risen sharply. A mine in the market is difficult to find. The merchants are obviously reluctant to sell and the transaction remains high.
After entering August, Longyu's bidding price continued to rise, and market sentiment improved. As of this week, 45-50% molybdenum concentrate was reported to 4340-4380 yuan/ton. However, the sharp rise in price led to a cautious wait-and-see mood in the market. The market turnover was relatively light, and production enterprises just needed to purchase more.
On August 10, a large number of international molybdenum oxide and imported molybdenum concentrates were traded. Some traders in the short-term market are still bullish and have strong quotations. Overall, the raw material side may continue to run strongly.
High price of ferromolybdenum steel mills have a heavy price-pressing mentality.
As of August 11, the market price of ferromolybdenum was reported to 285000-287000 yuan/ton.
The acceptance of high prices by steel mills is limited. Large steel enterprises try to lower prices. During the week, the bidding price of mainstream steel mills is around 275000 yuan/ton. However, at present, the cost of iron mills is relatively high and the in stock inventory is relatively low. Therefore, it is difficult for steel mills to lower prices. The price difference is obvious. A small number of low-priced steel bids cannot be filled.
However, with the large number of transactions of international molybdenum oxide and imported molybdenum concentrate on August 10, the short-term market is still bullish and the quotation is firm. Overall, the price of ferromolybdenum may continue to fluctuate and run strongly.