▍The latest molybdenum price:
Molybdenum Capital News: On April 11, Henan Ruyang Molybdenum Mine tendered to sell molybdenum concentrate, and the transaction price rose to a new high of 2920-2935 yuan.
Since October 2008, after more than 13 years, the price of molybdenum concentrate has risen by 2,900 yuan again, approaching the 3,000-yuan mark. Data show that the last time 45% molybdenum concentrate was 3,000 yuan was October 15, 2008.
▍The reason for the rise:
Internal supply and demand: In the first quarter of 2022, the consumption of molybdenum market in China was stable, the production of molybdenum mines was stable, the import volume was greatly reduced, and the export volume increased significantly, which led to the reversal of supply and demand in the domestic molybdenum market. The supply gap of raw materials in the molybdenum market has widened, resulting in the phenomenon of "grabbing mines", which stimulates the price of molybdenum to rise sharply.
External environment: Unexpected factors such as the Russian-Ukrainian war and intensified inflation stimulated sharp rises in energy and commodity prices, and the global commodity market continued to operate at a high level of inflation.
Epidemic factors: Uncertainty in the development of the epidemic, unsmooth logistics and transportation across the country, increased costs, and prolonged periods of goods in transit. Low inventory: After a large amount of historical inventory is digested in 2021, the inventory in the market is limited. At the same time, in the process of rising molybdenum prices, as molybdenum prices continue to rise, processing plants and traders have become more cautious in their operations. Under the situation of strong supply and demand fundamentals, downstream enterprises' inventories have remained low and rigid demand orders have continued to be stable, resulting in supply in the spot market. The shortage is obvious, and the price of molybdenum is easy to rise and difficult to fall.
▍Market outlook attention:
Continue to pay attention to the demand performance, the transaction price of ferromolybdenum, as well as the changes in domestic and foreign price differences, and the import of molybdenum oxide. The molybdenum market is expected to remain strong in the short term, and the shortage of supply will continue to have an impact on the price of molybdenum.
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