Under the background of strong supply and weak demand, the price of molybdenum iron has recently fallen below 200,000 yuan/mt, down more than 50% from the high hit in February. Following the sharp drop in molybdenum prices, steel mills have gradually increased purchases. However, steel mills still try to bring down purchase prices amid the supply-demand imbalance in the molybdenum market.
Some industry insiders understand that the reasonable price range of ferromolybdenum should be 150,000-160,000 yuan/mt.
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