Molybdenum Raw Material Price Is Soaring

▍Raw material market:

With the increase in the opening price of ferromolybdenum in the bidding of steel mills yesterday, the inquiries intention of the molybdenum concentrate market increased, but the spot market performance was tight, and the holders were reluctant to sell and bullish. Molybdenum concentrate and molybdenum oxide in stock are quoted at 2800 yuan and 2900 yuan respectively.

Recently, the bidding results of mines in Hunan, Yunnan and other regions are about to be announced, which is highly anticipated by the molybdenum market.

▍Ferromolybdenum Market

Under the circumstances of tight molybdenum concentrate raw materials, strong demand from steel mills, and the impact of the domestic epidemic, the purchase price of ferromolybdenum steel mills and the bulk transaction price rose sharply. This week, the opening price of steel mills rose to the range of 182,000-185,000 yuan, and the focus of quotations in the bulk market generally moved up to more than 185,000 yuan.

At present, in the first ten days of April, the total amount of molybdenum iron steel has been recruited to nearly 2,000 tons.

▍Molybdenum chemical and molybdenum products market:

The cost of raw materials has driven the downstream molybdenum price to rise, and the quotations of molybdenum chemical and molybdenum products companies have also been continuously raised. 

Ammonium dimolybdate reached a batch transaction at 180,000-181,000 yuan, and molybdenum powder reached a partial transaction at 343-344 yuan. Holders are reluctant to sell and bullish, and their quotations are firm.

▍International Molybdenum Market:

Overnight, the European ferromolybdenum quotation "made up for the fall", and the market transaction price did not change significantly. There are a few understandings that the shipment transaction was at 46 US dollars, and most stockholders were reluctant to sell below 46 US dollars. 

The mainstream price of molybdenum oxide in the Asian molybdenum market is still above US$19.15, and both buyers and sellers continue to persist in the game.

▍Molybdenum market attention:

Recently, the bidding results of some steel mills and mines will be announced one after another, and it is expected that the price focus is expected to move up further. 

Molybdenum concentrate is about to equal the highest record of 2,800 yuan since 2009, let's wait and see!