Molybdenum Daily Commentary on November 26: Molybdenum Iron Pressure Continued Molybdenum Industry Spreads
Key words: molybdenum, molybdenum concentrate, ferromolybdenum, molybdenum oxide, ammonium molybdate, molybdenum products
Modu Trading Network November 26, 2018:
In November, the ferromolybdenum market has been under pressure. Due to the successive decline in the price of ferromolybdenum in the steel mills since the end of the year, the confidence in the molybdenum market has been lost. The weak atmosphere has gradually spread to molybdenum concentrates, molybdenum chemicals and molybdenum products, resulting in a cautious molybdenum market. Do not decrease, wait and see.
Ferro-molybdenum prices continue to fall:
Last Friday, the representative steel mill tendered ferromolybdenum fell to 132,000 yuan / ton, further lower than the bidding prices of other steel mills in the previous period. Affected by this, the ferromolybdenum bulk market trade was light, the confidence of enterprises and traders was insufficient, and the market activity was greatly reduced. Today, the quotation of major ferromolybdenum companies continues to decline, and the mainstream quotation is located in the range of 133.135 million yuan / ton.
The demand for the debt is under pressure. The overall market in Molybdenum is weak:
Due to the sluggish demand in the molybdenum market and the continued decline in the price of molybdenum iron bidding, the molybdenum industry as a whole is in a weak operating phase, and the actual transaction price of some product markets has also decreased from the previous period. Although the magnitude is not obvious, in the current weak background, the market The purchasing power is extremely weak, and the atmosphere is dominated by cautious wait and see.
Today, the main producers of molybdenum concentrate and ammonium molybdate are temporarily maintained at the level of last week. Although the current spot supply is still not sufficient, the quotations of major enterprises have not been adjusted. However, many companies have indicated that they are weak due to the lack of procurement by downstream enterprises. Orders are affected, and corporate sales pressure is gradually increasing.
Except for the weak performance of molybdenum consumption in November, the demand for molybdenum deep processing terminals is also poor. Today, the factory price of a representative molybdenum powder manufacturer in Sichuan is down by 1,000 yuan from last week, and it is reported at 275 yuan/kg. The acceptance price is maintained at 278 yuan/kg.
There is only one week left in November. The amount of ferromolybdenum that has been entered into the steel mill this month is only 3,000 tons. It is expected that other steel mills will bid in the market this week. It is expected that the bidding price will continue to consolidate last week. The price pressure of ferromolybdenum still exists.
Under the premise of limited bidding, the molybdenum market will face a more severe test. The market has two main speculations about the future price of ferromolybdenum and the whole molybdenum industry:
First: Under the support of the current price of raw material molybdenum concentrate, does ferromolybdenum ushered in a stable change in bottoming?
Second: Under the pressure of continued pressure in the ferromolybdenum market, does ferromolybdenum face the test of continuing to bottom out, thus dragging down the performance of molybdenum upstream and molybdenum chemical and molybdenum deep processing market?
In the coming week, the risks and opportunities of the molybdenum market will coexist, and the situation that the molybdenum price will stabilize or fall may also occur. Please pay attention to the latest development of Molybdenum City released by our station every day.
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