Molybdenum Concentrate Is Adjusted Again, Molybdenum Demand Is Still Expected
Molybdenum Market Daily Review (2022-4-18)

▍Molybdenum concentrate rose and fell:

Last week, molybdenum concentrate hit a high and fell back quickly. Molybdenum mines were concentrated in bulk shipments above ￥2,880 , with a total transaction volume of more than 3,000 tons. Miners concentrated on bulk shipments around ￥2,800 , with a total transaction volume of more than 2,000 tons. This week, the shipments of molybdenum mines were small, and the stock of miners was small, and the price of molybdenum concentrates entered a wait-and-see state in the range of ￥2800-2860 .

▍The price of ferromolybdenum remained stable:

The market price of ferromolybdenum is stable, and the purchase volume of steel mills is stable. As of today, the total amount of steel recruiting in April is more than 4,800 tons. From this week to next week, some steel mills plan to launch a new round of bidding and procurement. The total number of tenders remained relatively optimistic expectations. At present, the mainstream quotation of ferromolybdenum remains in the range of ￥186,000-190,000.

▍The transaction of molybdenum chemical industry and products is light:

Affected by the fluctuation of raw materials, the current transactions of molybdenum chemical and product companies are light, and downstream buyers are cautiously watching, fearing heights and avoiding risks.

▍The price of molybdenum rod and molybdenum wire has risen sharply:

On April 15th, the major domestic molybdenum wire manufacturers collectively raised the ex-factory prices of molybdenum rods and molybdenum wires, among which the price of modified wire drawing generally increased by ￥40-50 /kg, and the price of wire-cut molybdenum wire generally increased by ￥100-150 /10,000 meters. . According to feedback from many companies, the main reasons for this round of price hikes are: raw material prices have risen sharply and manufacturers' spot supply is tight.

▍International market closed:

Due to the Easter holiday, the international molybdenum market was closed last Friday and this Monday.

▍Molybdenum Market Analysis:

The molybdenum market is in the third round after the Spring Festival, where the market has risen and met resistance and then fell back. Considering that the current molybdenum market is still in a state of stable supply and demand, it is expected that the room for this round of correction is limited. In late April, it is necessary to pay close attention to the purchase volume of steel mills. It is expected to usher in a new round of centralized bidding before May 1, and the demand for molybdenum can still be expected.