[SMM Weekly Review] the increase of multi-air interwoven molybdenum products in molybdenum market slows down.

SMM7 March 16: this week molybdenum concentrate, ferromolybdenum prices continued to rise compared with last week, but the increase slowed; molybdenum bar prices also rose slightly, mainly supported by raw material prices.

Today, the mainstream transaction price of SMM45% molybdenum concentrate is 2320-2350 yuan / tonnage, up 10 yuan / ton from last week; 60% ferromolybdenum mainstream transaction price is 14.9-155000 yuan / base ton, up 2500 yuan / base ton compared with last week; the mainstream transaction price of molybdenum bar is 340360 yuan / kg, up 5 yuan / kg slightly from last week.

Molybdenum concentrate: on July 13, a molybdenum mining enterprise in Henan sold molybdenum concentrate at a higher price of 2320-2350 yuan / tonnage, and the market price immediately rose, and then a number of molybdenum mining enterprises sold molybdenum concentrate one after another out of profit. Market supply tension has been alleviated to a certain extent, while the international molybdenum concentrate affected by the off-season has also suppressed the market price to a certain extent, the domestic molybdenum concentrate price is mainly stable.

Ferromolybdenum: in the first half of this week, domestic ferromolybdenum prices still showed an upward trend, mainly due to the steady growth of steel mill bidding and strong market demand. In the later stage, due to the decline of the international ferromolybdenum price and the market price exceeding the psychological expectation of some steel mills, the phenomenon of ferromolybdenum bidding began to appear, the market heat cooled, and the price gradually stabilized.

In terms of molybdenum bars: the terminal demand has not changed greatly for the time being, and the market transaction is mediocre, mainly due to the rise in the prices of raw materials such as molybdenum concentrates in the early stage, which stimulates manufacturers to follow the rising mentality, and then rises slightly, and in the second half of the week, as the market prices of raw materials stabilize, the prices of molybdenum bars are mainly stable.

SMM believes that: at present, the overall market is intertwined with many benefits, and some of the main steel mills have not yet entered the market for bidding, or will bring some expectations of growth in ferromolybdenum demand next week. At the same time, there is an environmental protection inspection team stationed in Liaoning, which may have a certain impact on ferromolybdenum production. On the negative side, Henan Province recently issued a notice of power restriction, the output of steel mills has been seriously restricted, and the demand for ferromolybdenum has plummeted in the short term. Generally speaking, it is difficult to ship goods at high prices in the market at present, and it is difficult to get goods at low prices, and the overall wait-and-see mood is strong, so SMM expects molybdenum market prices to be dominated by high shocks next week.