SHANGHAI, Nov 2 (SMM) – The mainstream transaction prices of molybdenum concentrate (45% Mo) stood at 2,160-2,200 yuan/mt today, down 10 yuan/mt from yesterday; the domestic 60% ferromolybdenum prices registered 148,000-150,000 yuan/mt, down 500 yuan/mt from yesterday.
Molybdenum products prices trended lower due to the sluggish bidding volume at steel mills and the continuous decline in the prices of molybdenum. Transactions thinned.
The export orders of some ferromolybdenum were traded at 148,000 yuan/mt and some molybdenum concentrate prices have fallen to 2,160 yuan/mt, with little buying. The bid prices of molybdenum at Jiuquan Steel and Shandong Iron and Steel will be announced soon. If the price continues to fall, the overall market trend may continue to weaken.
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