SHANGHAI, May 6 (SMM) – The mainstream transaction prices of molybdenum concentrate (45% Mo) stood at 2,560 -2,570 yuan/mt today, flat from last Thursday. The mainstream transaction prices of 60% ferromolybdenum prices stood at 165,000-168,000 yuan/mt, flat from last Thursday. The domestic molybdenum prices remained stable compared with last week. At present, bidding at steel mills maintained a good overall situation due to the good downstream demand and the resumption of work in Shanghai. Up to now, the total amount of domestic ferromolybdenum traded through bids was more than 2,000 mt. However, the molybdenum market was in stalemate as steel mills still tries to lower purchase prices and the downstream enterprises were cautious about procurement due to the continuous drop in molybdenum prices in the early stage. It will take time for the market to fully recover, which suppressed the prices. At present, the price increase at the mine end lacked sufficient support amid the tug-of-war and the wair-and-see sentimen. It is expected that the short term prices will remain stable.
Molybdenum Makect Remained Stable while the Market Saw a Deep Deadlock
The mainstream transaction prices of molybdenum concentrate (45% Mo) stood at 2,560 -2,570 yuan/mt today, flat from last Thursday. The mainstream transaction prices of 60% ferromolybdenum prices stood at 165,000-168,000 yuan/mt, flat from last Thursday. The domestic molybdenum prices remained stable compared with last week.
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