Shasteel Hikes Si-Mn Alloy Bid Price for August, SMM Reports

[ SMM Molybdenum Daily Review: Overseas Molybdenum Market Rose, Coupled With Increased Stocking Demand From Domestic Steel Mills, Molybdenum Market Increased ] SMM February 4 News: Today, the domestic molybdenum market rebounded slightly. The international molybdenum oxide market held up well, boosting domestic market sentiment. On February 3, a mine in Yunnan auctioned molybdenum concentrate, with the final transaction price rising to 4,115 yuan/mtu, driving up the center of spot order negotiations in the domestic market. Today, prices of major domestic molybdenum products, including molybdenum concentrate, ferromolybdenum, and molybdenum chemicals, generally rose, and market trading sentiment was active.

[SMM Magnesium Morning Conference Notes: Magnesium Market Under Pressure Amid Tight Raw Material Supply and Sluggish Demand] February 4, cost side, dolomite supply tightened as leading producers in Wutai suspended production, with prices expected to hold up well; ferrosilicon futures dropped slightly, while spot transactions remained neutral, with downstream users mainly making just-in-time procurement. The magnesium ingot market continued its weakness, with offers in Fugu County lowered to 16,400-16,500 yuan/mt, sluggish transactions, and strong wait-and-see sentiment among downstream users. Foreign trade was mainly focused on fulfilling previous orders, with few new orders. The benchmark price of magnesium alloy was under pressure due to declining magnesium ingot prices on the cost side, but processing fees held steady. As the Chinese New Year approached, some end-users began holidays, leading to a slight decrease in orders, with the market maintaining a tight balance. The magnesium powder market remained generally stable, though the center shifted slightly downward due to falling raw material prices. On the demand side, domestic trade involved purchasing as needed, while foreign trade saw limited new orders. Overall, the magnesium industry chain faced partial supply tightness providing support in the short term, but sluggish demand remained the core factor driving price trends, with the market expected to stay in the doldrums.