Today's observation 2-19: International molybdenum prices have risen sharply, and the domestic market is ready to go

[Domestic molybdenum concentrate market is gaining momentum]

 

　　 During the Spring Festival, the international molybdenum price once again ushered in a strong rise, igniting the sentiment of the domestic molybdenum concentrate market. Holders expect that the price will rise sharply compared with the previous year. At the same time, the quotations of products such as ferromolybdenum and molybdenum chemicals have risen sharply, which also signaled the upward trend of molybdenum prices after the holiday, causing the market to be unable to quote and lack representative transactions.

 

　　 On the other hand, the market environment and conditions are basically in place. As major domestic mines basically maintain normal production during the Spring Festival, the sentiment of shipments is also increasing. A number of large and medium-sized mines indicated that they have plans to ship in the near future.

 

　　[Steel invites higher prices from ferromolybdenum and ferromolybdenum plants]

 

　　As of today, the total amount of FeMo Fe was 1,050 tons in February. A steel plant in Hebei bid for 100 tons of ferromolybdenum. The bid price was announced at 110,000 yuan/basis ton (acceptance), and the delivery date was March 13. The price of ferromolybdenum has obvious signs of increase, and it is difficult to trade in the market below the price of 110,000 yuan / basis ton. A small number of ferromolybdenum companies have concluded scattered transactions, and the transaction price is between 1.1-112 million yuan per basis ton in cash.

 

　　【Maintain a strong upward momentum after the International Molybdenum Price Festival】

 

　　 The international market remained active and strong after the Spring Festival. The mainstream transaction price of molybdenum oxide in Busan Port was USD 12.3-12.5 per pound of molybdenum yesterday, with a total transaction volume of 200 tons. Holders have a stable mentality, and their quotations basically revolve around high prices. In Europe, the price of molybdenum oxide continued to rise, and a deal was reached at $12.65 per pound of molybdenum. Last night, it was reported that a deal was reached at Busan Port at $12.7 per pound of molybdenum, and the highest price in Asia was refreshed again.

 

The tight spot in the international market and the expected increase in currency, global economic easing is an important influencing factor. In the short term, international molybdenum prices remain strong. Judging from yesterday’s market performance, the Port of Busan has obvious intention to buy at low prices, US$12.38 per pound of molybdenum and 12.4 USD/lb molybdenum has a relatively large trading volume.

 

　　【The "two" markets at home and abroad pay attention to exports】

 

　　 During the Spring Festival, the international molybdenum price rose strongly, widening the gap with the domestic market, far higher than the domestic market, forming "two" independent molybdenum markets. According to the current international price of 12.3-12.7 US dollars per pound of molybdenum and 28.7-29.1 US dollars per kilogram of molybdenum molybdenum, China’s production of molybdenum oxide and ferromolybdenum can be exported, but whether the export can be successful depends on the recent domestic market prices. Variety.

 

　　[Chemical market quotes rose sharply]

 

Most companies in the molybdenum chemical market have started construction, and a few companies have tentatively raised the quotations of first-level ammonium tetramolybdate to 115,000 yuan/ton. A petroleum company bid for high-purity, and the market quotations were all over 140,000, and the final transaction price was also 140,000 yuan. The bottom fluctuates slightly.