Molybdenum Market Sentiment Rises Amid Mixed Price Performance and Tightening Spot Cargo Circulation

[SMM Molybdenum Daily Review: Steel Tender Prices Decline, Molybdenum Market Sentiment Rises, Molybdenum Prices Show Mixed Performance] In contrast, starting mid-week, steel mills' inquiries for raw materials increased, driving up the demand for molybdenum raw materials from ferromolybdenum producers.

As a result, the molybdenum raw material market showed signs of a rebound. Today, the mainstream price of 40% molybdenum concentrate rebounded to 3,600-3,620 yuan/mtu, with suppliers showing a strong sentiment to stand firm on quotes, making it difficult to close deals at mid-to-low price levels.

Currently, mainstream molybdenum mines have a weak willingness to sell; the cost of raw materials held by trade suppliers is generally at or above 3,700 yuan/mtu, thus the release of molybdenum raw materials is limited, and the market spot cargo circulation is tightening.