[SMM Molybdenum spot KuaiBao] the consumption of molybdenum raw materials is strong and the price continues to rise.

SMM7 March 7: today, the price of 45% molybdenum concentrate in China is 2250-2350 yuan / tonnage; the price of 55% molybdenum concentrate is 2450-2600 yuan / ton, which is 50 yuan / ton higher than that of yesterday; the price of molybdenum oxide is 2300-2800 yuan / ton, up 100 yuan / ton compared with yesterday; the price of 60% ferromolybdenum is 14.7-150000 yuan / ton, which is the same as yesterday. According to SMM, due to the steel mills began to enter the market bidding this week, leading to further growth in ferromolybdenum demand, thus driving the demand for molybdenum concentrate and molybdenum oxide. At the same time, because of their own large ferromolybdenum orders, head resource-based enterprises such as Jinduicheng and Luomo suspended the sale of molybdenum oxide from late June, which led to a further rise in the price of raw materials such as molybdenum oxide and molybdenum concentrate. At present, the purchasing enthusiasm of molybdenum concentrate and molybdenum oxide in the downstream is still high, and the selling mentality of upstream mining enterprises is serious. It is reported that the molybdenum oxide of a large molybdenum mining enterprise in Henan Province is no longer available for sale, and it will take at least a week for newly signed orders to pick up the goods. The move to some extent reflects the current tight supply of raw materials in the market, and SMM believes that prices will continue to rise in July without a change in the supply and demand pattern.

For more information about molybdenum, please contact Shi Zhenwei, molybdenum industry analyst: 18561125735