Molybdenum City Daily Commentary on March 6, 2019: International molybdenum price increases significantly
Key words: molybdenum, molybdenum concentrate, ferromolybdenum, molybdenum oxide, ammonium molybdate, molybdenum products
Modu Trading Network March 6th, 2019:
Since the domestic price of molybdenum concentrate has risen again, the price of molybdenum chemical market has risen slightly today, and the price of ammonium tetramolybdate has risen to 1.26-12.8 million yuan/ton. At the same time, the international price of molybdenum oxide has further increased, the latest offer rose to 12.3-12.4 US dollars / lb, the European ferromolybdenum offer also rose to 28.2-28.5 US dollars / kg. Although the price of domestic molybdenum downstream ferromolybdenum products has been supported by the low cost of raw materials, it has been stable, but it has been stable under the suppression of steel prices.
Molybdenum City Deal:
Yesterday, Inner Mongolia and Henan provinces sold 40-45% grade molybdenum concentrates at dozens of tons, and the transaction price was around 1750 yuan/ton. In Henan and Liaoning, more than ten tons of ferromolybdenum were sold, and the transaction price was about 118,000 yuan/ton. A small amount of molybdenum oxide in the international market was reached at a price of $12.35 per pound.
Steel mill tender:
Yesterday, Gansu No. 1 Steel Plant tendered 90 tons of ferromolybdenum at a price of 115,300 yuan/ton; the price of ferromolybdenum in some steel mills in Liaoning and Qinghai was not yet determined.
Molybdenum primary market:
At present, the current status of the molybdenum primary market is: the spot supply of raw material molybdenum concentrate is relatively tight, which makes the price in a strong position, and the low-priced procurement is difficult, but the price of the ferromolybdenum in the steel mill is still at a low level. Yesterday, the bidding price of some steel mills was still in the acceptance of 11.6-11.7 million yuan / ton, affecting the operational level of the molybdenum city.
Molybdenum Chemical Market:
At present, the price of ammonium tetramolybdate is basically 12.6-12.8 million yuan / ton. Part of the transaction price this week is gradually followed up to acceptance of 12.7-12.8 million yuan / ton; the price of ammonium dimolybdate is basically 129-311,000 yuan / ton Recently, some of the transaction prices have also been gradually followed up to an acceptance of 131,000 yuan / ton. The downstream molybdenum products enterprises still have a cautious attitude toward the procurement of ammonium molybdate raw materials, and many enterprises have indicated that they are mainly based on on-demand purchases.
Molybdenum deep processing market:
Unlike the active changes in the upstream market, the downstream molybdenum products market has been relatively light since the Spring Festival. Although the prices of upstream molybdenum primary and molybdenum chemical raw materials have increased significantly since the Spring Festival, the overall performance of downstream molybdenum deep processing market consumption is weak. Many enterprises report that the new orders are general and the operating rate of enterprises is low. At present, the deep processing market is still in the embarrassing situation of increasing raw material costs and further squeezing the profit margin of downstream molybdenum products.
International Molybdenum City:
The international price of molybdenum oxide has further increased. Some domestic exporters have also suspended their active quotations this week, and the transaction price has once again rose to 12.3-12.4 USD/lb. Under the promotion of raw materials, the European ferromolybdenum offer also has a relatively obvious performance.
Molybdenum City Hotspot:
The terminal demand performance is not prosperous, and the molybdenum market has a strong wait-and-see atmosphere. Today, Molybdenum is waiting for new representative bidding or transaction information to guide the direction.
Molybdenum City Daily Commentary:
Since the beginning of March, the major steel mills have purchased ferromolybdenum in quantities of nearly 2,000 tons, but the bidding price is significantly lower than that of the raw material molybdenum concentrate, prompting the intermediate product ferromolybdenum to be in the “upside down” cost. The bidding volume in these days was limited, which prompted the molybdenum market to enter the wait-and-see and stalemate stage again. It is expected that the market atmosphere will not change significantly until the price of representative steel ferromolybdenum is announced.
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