Molybdenum City Daily Commentary on March 21, 2019: "Inverted Spring Cold" Advance Molybdenum iron has not been "returned"
Key words: molybdenum, molybdenum concentrate, ferromolybdenum, molybdenum oxide, ammonium molybdate, molybdenum products
Modu Trading Network March 21, 2019:
In the spring equinox today, a sudden drop of heavy snow in the northeast region, a "cold wave" hit the northern land of the motherland, "falling cold" came early, just like the current performance of the ferromolybdenum market, it is too late to "recover".
Affected by the lower price of ferromolybdenum, the price of international molybdenum oxide and ferromolybdenum was slightly reduced to 12.3-12.45 USD/lb molybdenum and 28.8-29.1 USD/kg molybdenum. Domestic molybdenum prices are temporarily stable, market transactions are not active, and the cautious wait-and-see atmosphere is strong.
Molybdenum City Deal:
Some 40-45% molybdenum concentrates reached a deal at the current price of 1760 yuan / ton, bulk ferromolybdenum reached a small amount of transactions between the current amount of 11.8-12 million yuan / ton, the total turnover of the molybdenum market is low.
Steel mill tender:
Yesterday, Jiangsu No. 1 Steel Plant tendered 60 tons of ferromolybdenum, the price was accepted at 117,500 yuan / ton; another steel mill in Jiangsu tendered ferromolybdenum 60 tons, the price has not been determined. South Korea's Pohang Steel tendered 100 tons of ferromolybdenum, the final price of about 28.8 US dollars / kg of molybdenum.
Molybdenum primary market:
The relationship between molybdenum mines, molybdenum iron plants and steel mills is relatively close, and the impact on molybdenum market is also obvious. At present, the production and supply of molybdenum mines are stable. Steel mills generally perform on ferromolybdenum purchases, but they have not been in the fourth quarter of 2018. Since the steel mills reduced their own ferromolybdenum inventory, the ferromolybdenum plant has maintained normal production, resulting in a gradual increase in the inventory of ferromolybdenum in the ferromolybdenum plant.
Molybdenum Chemical Market:
Compared with the ferromolybdenum iron inventory in the ferromolybdenum plant, ammonium molybdate enterprises are concentrated in several major enterprises and environmental protection in various regions, which has restricted the production of some enterprises. The spot market of ammonium molybdate market is not much, which is also the price of ammonium molybdate. The main reason for the continued strength.
Molybdenum deep processing market:
The terminal demand performance of the downstream processing market of molybdenum still has no bright spots and remains light. The enthusiasm of enterprises for purchasing raw materials is not high, and the production and sales of products are mainly to maintain order production.
International Molybdenum City:
International ferromolybdenum prices have accelerated in recent days, and the latest offer has fallen to US$28.8/kg of molybdenum. It is reported that China’s VAT rate has been lowered from 16% to 13% since April 1.
Molybdenum City Hotspot:
According to the statistics of the Ministry of Energy and Mineral Resources of Peru, the production of molybdenum concentrate in Peru in January 2019 was 2009 metal tons, a decrease of 16% from December 2018 and a decrease of 9.5% from January 2018.
Molybdenum City Daily Commentary:
According to the research and analysis of Modu Trading Network, the spot stock of molybdenum concentrate available for sale in molybdenum mine is extremely low. The amount of ferromolybdenum in stocks has gradually decreased since the end of 2018 in the context of meeting the normal purchase of current demand, but the middle molybdenum After the normal purchase of raw materials, the iron smelting plant has a certain inventory of molybdenum oxide and ferromolybdenum products. This stock volume has increased since November 2018. After the steel mills actively reduce the standing stock of ferromolybdenum, the pressure of ferromolybdenum plant inventory Relatively increased, this is also the main reason why the supply of raw material molybdenum concentrate is tight and the price of ferromolybdenum is never able to exceed 120,000 yuan/ton.
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