Molybdenum Daily Commentary on November 13: The Molybdenum Price Faces the Contradictory Game of Cost Support and Consumption Suppression
Key words: molybdenum, molybdenum concentrate, ferromolybdenum, molybdenum oxide, ammonium molybdate, molybdenum products
Modu Trading Network November 13, 2018:
At present, the molybdenum market performance is particularly calm. Some major producing areas are conducting environmental supervision. Ammonium molybdate is strongly supported by raw material support companies, but the ferromolybdenum market is weak. The foreign molybdenum market is consistent with domestic performance and has been in a weak consolidation situation in the near future.
Today's molybdenum price: 40-45% grade molybdenum concentrate market price 1950-1980 yuan / ton, 45% grade molybdenum concentrate market price 1980-2040 yuan / ton, ferromolybdenum market bulk price quoted 13.14 million / ton, ammonium tetramolybdate enterprises offer 145,000 yuan / ton, ammonium dimolybdate enterprises offer 148,000 yuan / ton, molybdenum powder enterprises offer 27.5-28 million yuan / ton.
Molybdenum concentrate: Recently, the trading activity of molybdenum concentrate market is not good, and procurement companies and traders are mostly watching. According to feedback from market participants, the current molybdenum concentrate is in the embarrassing situation that “stocks who want to buy goods at a suitable price are not smooth, and those who want to buy goods in bulk want to purchase molybdenum concentrates.”
Molybdenum iron: According to the statistics of Modu Trading Network, the amount of ferromolybdenum in the steel mills has been nearly 1,000 tons since the beginning of November. The bidding data is in a downturn, which restricts the development of the ferromolybdenum market. Affected by weak demand, the trading of ferromolybdenum bulk cargo market is in a weak consolidation situation, and some selling prices have been adjusted back to around 135,000 yuan / ton. Due to lack of market confidence, the ferromolybdenum trade was light overall, and the market waited for a strong atmosphere.
Ammonium molybdate: Compared to the weak performance of ferromolybdenum, the ammonium molybdate market is still in a strong trend. Due to the shortage of high-soluble molybdenum oxide in raw materials, the two major manufacturers of ammonium molybdate in Liaoning and Sichuan have firm offers, and they are reluctant to sell at low prices, which is a strong support for the strong market of ammonium molybdate. Supported by the cost of ammonium molybdate, the price of downstream molybdenum powder and deep-processed products is also at a firm price. Although the demand for deep processing is not strong, the production costs of various enterprises have been continuously improved, and the profit of deep processing sales has continued to be compressed. However, the tight supply of raw materials is difficult to change in a short period of time. Therefore, the market for ammonium molybdate and molybdenum deep processing will continue to be strong. .
Summary: Due to the economic downturn, other metals have been weak in the near future. At home and abroad, the molybdenum market showed a sluggish consolidation trend in the first half of November. As for the molybdenum price in the second half of November, it is a continuation of the sluggish consolidation situation or a stable operation. We believe that the domestic molybdenum market will continue to face the support of raw material costs and consumer demand. Contradictory game situation, in this situation, molybdenum prices will gradually stabilize or further decline in the near future.
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