[SMM Molybdenum Weekly Review: molybdenum products are in short supply and molybdenum prices are rising]

The prices of molybdenum concentrate, molybdenum oxide and ferromolybdenum all rose this week compared with last week, mainly due to the shortage of ferromolybdenum raw materials and the increase in downstream demand. Today, the trading price of SMM45% molybdenum concentrate is 2300-2400 yuan / tonnage, up 75 yuan / tonnage from last week; 50% molybdenum oxide price is 2400-2800 yuan / ton, up 150 yuan / tonnage from last week; and 60% ferromolybdenum price is 14.7-152000 yuan / ton, up 2500 yuan / ton compared with last week. Molybdenum concentrate: at the beginning of this week, due to the influence of the slight drop in ferromolybdenum prices last week, ferromolybdenum manufacturers had limited ability to accept the price of raw materials, and the transaction of high-priced resources in the molybdenum concentrate and molybdenum oxide market was blocked. The price of 45% molybdenum concentrate fell slightly from 2200-2350 yuan / tonnage to 2200-2300 yuan / tonnage. In the second half of the week, due to the successive tenders of steel mills, the main ferromolybdenum manufacturers increased their starting load, the demand for molybdenum concentrate raw materials increased, at the same time, international molybdenum concentrate prices increased and domestic imports decreased, mining enterprise inventories were generally low, and the market was in short supply. molybdenum concentrate prices continued to rise from 2200-2300 yuan / tonnage on Monday to 2300-2400 yuan / tonnage on Friday. In terms of molybdenum oxide: although there was a certain correction in molybdenum concentrate prices at the beginning of the week, because leading enterprises such as Jinduicheng and Xinhua Dragon Molybdenum stopped selling molybdenum oxide from late June and have not started selling molybdenum oxide as of today, the market resources are still relatively tight. Molybdenum oxide prices are supported by this to maintain 2300-2600 yuan / tonnage unchanged, and then due to the rise in molybdenum concentrate prices and the increased demand for molybdenum oxide and molybdenum concentrate from ferromolybdenum producers. Molybdenum oxide is hard to get, and the price immediately rises to 2400-2800 yuan / tonnage. Ferromolybdenum: after a slight decline in prices last week, the cost-supported ferromolybdenum market has a strong wait-and-see mood at the beginning of this week, with prices stable at 14.6-148000 yuan / ton. In the second half of the week, due to the general increase in demand for ferromolybdenum in steel mills with full horsepower production, there have been more bids in recent days, and the actual bidding price has risen from 146,000 yuan / tonnage on Monday to 150000 yuan / tonnage on Friday. The increase in downstream demand, the increase in purchasing prices of steel mills and the rise in raw material prices have led to a sustained rise in ferromolybdenum prices to 14.7-152000 yuan / ton. SMM believes that next week, the steel mill order delivery pressure will remain, the demand for ferromolybdenum will remain high, and the ferromolybdenum market will remain in short supply. Therefore, the prices of molybdenum concentrate, molybdenum oxide and ferromolybdenum will still be upward. At the same time, the prices of molybdenum bars and ammonium molybdate and other products are also likely to rise under the support of rising raw materials.