Output of Molybdenum Concentrate was 19,300 mt, up 6.63% from February

SHANGHAI, Apr 11(SMM) - SMM data shows that in March 2021, the domestic molybdenum concentrate output was 19,300 mt, an increase of 6.63% from February. Domestic molybdenum concentrate output increased greatly in March compared to February, which mainly because the majority of mines resumed normal production in March as domestic molybdenum mines were no longer affected by the Chinese New Year holiday. In addition, downstream steel mills returned to normal procurement in March and stockpiled molybdenum products in advance due to concerns about the pandemic affecting future transportation, leading to a significant increase in demand compared to February and a further increase in mine production enthusiasm.