International molybdenum price continued to jump

International molybdenum price continued to jump:

Overnight, international molybdenum prices continue to rise trend, molybdenum oxide trading price rose to more than 32 dollars, European ferro molybdenum rose to more than 72 dollars. The gap between domestic and foreign prices widened further.

According to some participants in the international market said: the first quarter of the international market raw material supply degree intensifies, may stimulate molybdenum price further upward.

China’s year-end molybdenum price surge:

In recent days, large steel bidding, especially part of the leading steel procurement of ferro molybdenum price initiative to increase, steel plant before the holiday inventory positive, stimulate ferro molybdenum prices continue to rise. The latest price shows that the price of the mainstream steel mill has risen to 295,000 yuan.

Molybdenum concentrate mine delivery price follow up ferro molybdenum continued to rise, yesterday and today large molybdenum mine reached more than 3500 tons of transaction at the price of 4300 yuan, the volume of price rises highlight the active atmosphere of molybdenum city.

The quotation of downstream ammonium molybdate and molybdenum powder enterprises follows closely with raw materials. Large factories are reluctant to sell at low prices, and a small number of downstream enterprises have reached a deal on demand replenishment.

Outlook of Molybdenum City before the Spring Festival:

At present, the heat of molybdenum market at home and abroad is not decreasing, and the molybdenum price remains strong after rising to a new 15-year high. It is expected that the molybdenum price will continue to rise before the Spring Festival, and the mainstream transaction price of ferro molybdenum in the Chinese market is expected to gradually settle down to a new high of 300 thousand yuan.