Molybdenum Price Increases with Powerful Demand. In this week,...

Molybdenum Price Increases with Powerful Demand.


In this week, international molybdenum market tends strong, while Chinese market recovers again, and demand by steel mills appears to be powerful.

Up to Jan 14th, the price of ferromolybdenum rises to USD42.75-44/kg, moly oxide rises to USD17.1-17.4/lb in Europe. In the U.S., the price of ferromolybdenum is still at USD18.65-19/lb, moly oxide rises rapidly to USD17-17.3/lb. Affected by western market, Chinese moly oxide suppliers improve export price to USD17.50-17.60/lb FOB.

Jinduicheng Molybdenum Group said that owing to a strong demand in international market and a short supply in China recently, they maintain some long-term contracts but not scattered customers.

Meanwhile, Chinese molybdenum market price rises up. At the end of week, the main ferromolybdenum price in China increases to RMB145,000-147,000/mt, and transaction price differs from RMB142,000/mt to RMB144,000/mt. It is reported by www.ferro-alloys.com that due to a long holiday in the Spring Festival, many steel plants such as Panzhihua Steel, Jinan Steel, Tianjin Dawufeng and Nanjing Steel purchase more ferromolybdenum in Jan.

On material: the price of molybdenum concentrates rises to RMB2130-2160/mtu, and many suppliers insist on their quotations because they think highly of the market prior to the Spring Festival.

Views on market of next period:
* Firstly, the price of molybdenum concentrates rises consistently, which leads to the rise of downstream molybdenum products.
* Secondly, in the middle of Jan, with many steel mills purchase materials prior to the Spring Festival, there is still stronger demand next week.
* Thirdly, most market participants have confidence and think highly of the present rising tendency.