[SMM Molybdenum spot KuaiBao] Raw material price demand goes up to good ferromolybdenum price for the second time.

SMM7 March 28: today, the mainstream transaction price of 45% molybdenum concentrate in the domestic market is 2330-2360 yuan / tonnage, up 10 yuan / tonnage over the previous day; 60% ferromolybdenum market mainstream transaction price is 155000-159000 yuan / base ton, up 2000 yuan / base ton over the previous day. Ferromolybdenum prices have risen for the second time in a row.

SMM learned that the rise in ferromolybdenum prices is partly due to the rise in molybdenum concentrate prices. A molybdenum mining company in Shaanxi continues to stop production. It is understood that due to the lack of hope of resuming work in the short term, the molybdenum concentrate market inventory is gradually being consumed. A mining company in Heilongjiang resumed work today, and the external sales price was 2360 yuan / tonnage, 10 yuan / tonnage higher than the previous market price. At the same time, Jiangxi, Henan and other mining enterprises molybdenum concentrate prices have also been raised, the rise in raw material end prices support the rise in ferromolybdenum prices.

On the other hand, tight supply and increased terminal demand also supported the rise in ferromolybdenum prices. SMM learned from the market that there was a certain price reduction behavior in the bidding of some steel mills before, while ferromolybdenum manufacturers hesitated to sell at low prices, resulting in a low completion rate of bidding in the previous steel mills, generally at 30% 50%. The current ferromolybdenum inventory in steel mills is low, and the purchasing pressure increases, and the steel recruitment price immediately rises to a certain extent. At the same time, the entry of the environmental protection inspection team in Liaoning led to the decrease of ferromolybdenum production in this area, and the imbalance between supply and demand led to the rise of ferromolybdenum prices.

At present, due to the rising price of raw materials, shortage of supply and strong demand, both buyers and sellers of ferromolybdenum have basically reached a consensus on the rise in prices. coupled with a certain rebound in international molybdenum prices, the ferromolybdenum market is expected to continue to rise. and it is possible to drive up the prices of molybdenum products such as molybdenum bars.