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Ore Prices Continued to Fall amid Market’s Risk Aversion Sentiment

iconMay 23, 2022 15:38
Source:SMM
The mainstream transaction prices of molybdenum concentrate (45% Mo) stood at 2,680- 2,690 yuan/mt today, down 30 yuan/mt from last Friday.

SHANGHAI, May 23 (SMM) – The mainstream transaction prices of molybdenum concentrate (45% Mo) stood at 2,680- 2,690 yuan/mt today, down 30 yuan/mt from last Friday.

The mainstream transaction prices of 60% ferromolybdenum prices stood at 173,000-179,000 yuan/mt, flat from last Friday. Today, the domestic molybdenum concentrate prices fell again. In addition, ferromolybdenum enterprises were severely depressed by the steel mills. Therefore, based on cost considerations, the wait-and-see sentiment was strong. The transactions in the molybdenum concentrate market were poor, and the cargo holders continued to sell, further triggering an increase in the supply and making the prices fall further. In the short term, the domestic molybdenum concentrate market still needs to recover, and it is expected that the prices may still fall in the short term.

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