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[SMM Molybdenum spot KuaiBao] the impact of torrential rain in Henan on the molybdenum city is limited and the market continues to be stable.
Jul 21,2021 17:39CST
Translation
Source:SMM
As a downstream enterprise of ferromolybdenum, the stainless steel factory is also limited affected by the torrential rain in Henan, mainly because there is only one stainless steel enterprise in Xinjinhui around Zhengzhou and this enterprise mainly produces 200 series stainless steel. however, the 300 series stainless steel with high demand for ferromolybdenum only accounts for about 1 / 3 of its total daily output.
The content below was translated by Tencent automatically for reference.

SMM7 March 21-Today, 45% molybdenum concentrate mainstream transaction prices are 2320-2350 yuan / tonnage, 60% ferromolybdenum mainstream transaction prices are 15.2-155000 yuan / base ton, prices are unchanged from yesterday.

In terms of molybdenum concentrate: the market transaction continues to be stable, and the torrential rain in Henan has little impact on Luo Mo, Longyu and other leading enterprises, mainly because the above-mentioned production enterprises are located around Luoyang and are not in the disaster area, and the overall supply of molybdenum concentrate is stable. Downstream mining and buying on demand, prices remain stable.

In the aspect of ferromolybdenum: as a downstream enterprise of ferromolybdenum, the stainless steel factory is also limited affected by the rainstorm in Henan, mainly because there is only one stainless steel enterprise in Xinjinhui around Zhengzhou and this enterprise mainly produces 200 series stainless steel. the 300 series stainless steel with large demand for ferromolybdenum only accounts for about 1 ~ 3 of its total daily output. At the same time, recently, Nanjing Iron and Steel, Henggang and other steel mills ferromolybdenum bid prices have been maintained at 15.2-154000 yuan / base ton, located in the current market mainstream transaction price range, the market is still stable.

Overall, the current relationship between supply and demand in the market is stable, and buyers and sellers hold a cautious wait-and-see attitude. Under this influence, there is resistance to the molybdenum price conflict breaking the high level, but it is equally difficult to probe down, and it is expected to be stable in the short term.

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