The rising bidding price of Henan molybdenum mining enterprises promotes the price of molybdenum concentrate to continue to rise.

SMM7 March 29th: according to SMM, a large molybdenum mine in Henan Province will bid for molybdenum concentrate online again in the afternoon of July 28th. The auction volume is about 480 tons, and the mainstream transaction price is 2345-2355 yuan / tonnage, while the mainstream cash transaction price of the molybdenum mine on July 13 is 2305-2350 yuan / tonnage, up 25 yuan / tonnage.

It is understood that the auction is the third auction held by the large mining company this month. In early July, the first auction volume of the mining company was about 200t, and the mainstream transaction price was about 2230-2260 yuan / tonnage; the second auction volume on July 13 was about 860t. The mainstream transaction price is about 2305-2350 yuan / tonnage. Yesterday's auction volume decreased to 480 tons, but the mainstream transaction rose to 2345-2355 yuan / tonnage. Through three auctions with different transaction prices, we can also see that the molybdenum concentrate market is still showing a strong trend this month.

SMM learned from some market participants that 480 tons of molybdenum concentrate was auctioned by Jinduicheng, Xinyuan, Xintai, Luomo and Jinyuan respectively, of which Xintai, Jinduicheng and Luo Mo were the main buyers, accounting for about 90 per cent of the total. Compared with the last time there were three winning units, the number of participating enterprises increased to a certain extent.

It is understood that the increase in the number of participants in the auction and the rise in auction prices have played a certain role in promoting the rise in molybdenum concentrate prices, superimposed by the rising prices of Heilongjiang mining enterprises, and the willingness of other raw material enterprises to follow the rise gradually increased. SMM learned from market people that on the 29th, the tender price of 45% molybdenum concentrate of Henan Changqing Mining rose to 2370 yuan / tonnage, about 20 yuan / tonnage higher than the previous day's market price.