The rising bidding price of molybdenum concentrate in Henan Province promotes the market sentiment to continue to heat up.

SMM7 March 14: according to SMM, a molybdenum concentrate in Henan Province was invited for bidding on July 13. There was no first-class auction of about 800T molybdenum concentrate, and the mainstream cash transaction price was 2305-2350 yuan / tonnage, which was significantly higher than last week's mainstream cash transaction price of 2230-2260 yuan / tonnage. Affected by this, the market mood of molybdenum raw materials is hot. Today, the price of 45% molybdenum concentrate in the market is 2320-2420 yuan / tonnage, which continues to rise slightly by 20 yuan / tonnage.

It is understood that the molybdenum mine will hold bidding for molybdenum concentrate irregularly every month, and the amount of each bid will be determined according to the market situation, which is basically maintained at the level of more than 1000 tons per month. This time, when the market was good, there was a mass bidding with a single bidding volume of 800T, an increase of nearly 300% compared with last week.

According to the market personnel, the final turnover of 45-50% molybdenum concentrate at the cash price of 2305-2350 yuan is about 600t, and the turnover of more than 50% molybdenum concentrate is about 200t at the cash price of 2320-2335 yuan. Among them, the main bidders are Jinduicheng and Luo Mo. It is understood that Jinduicheng won about 550 tons and Luo Mo won about 200 tons, and the two companies accounted for more than 90% of the total bid.

According to SMM analysis, the bidding price of the mine increased by about 4% month-on-month compared with last week, which plays a certain role in supporting the market price of molybdenum raw materials. At the same time, almost all of the molybdenum concentrate in this auction flowed into the two leading enterprises, Jinduicheng and Luomo, and at present, as these two enterprises increased their production of ferromolybdenum, they cherished the sale of molybdenum concentrate and stopped selling molybdenum oxide. the form of shortage of molybdenum raw materials on the market has not been improved, and due to the large auction volume, the inventory of the mine is low, and it may be difficult to have a large number of auctions in the second half of the month, and the market search sentiment is further strengthened. SMM predicts that the price of molybdenum raw materials may continue to rise in the near future.