[SMM Molybdenum spot KuaiBao] the rising demand for ferromolybdenum raw materials strongly supports the rise in ferromolybdenum prices.

SMM7 March 8: today, 45% of the domestic molybdenum concentrate price is 2300 yuan / tonnage-2400 yuan / tonnage, up 50 yuan / tonnage compared with yesterday; molybdenum oxide price is 2400 yuan / ton-2800 yuan / ton, up 50 yuan / ton compared with yesterday; ferromolybdenum price is 147000 yuan / ton-152000 yuan / ton, up 1000 yuan / ton compared with yesterday, ferromolybdenum price begins to rise. According to SMM, the reason for the rise in ferromolybdenum prices is that raw materials such as molybdenum concentrate and molybdenum oxide are in short supply, and the continuous rise in raw material prices has supported the rise in ferromolybdenum prices. On the other hand, the continuous rise in the prices of stainless steel and special steel while the steel mills maintain the state of high-yield energy has led to a strong demand for ferromolybdenum in steel mills, and the mainstream bidding price of steel mills has risen from 146000 yuan / ton at the beginning of the month to 150000 yuan / ton at present, driving up the mood of ferromolybdenum to a certain extent. In the short term, the inventory of molybdenum concentrate and molybdenum oxide in domestic mainstream mining enterprises is still tight. Customs data show that the import of molybdenum concentrate in China from January to May this year decreased by 24.49% compared with the same period last year. Under the circumstances of tight raw material supply and rising international molybdenum concentrate raw material prices, ferromolybdenum prices are expected to continue to rise.