Molybdenum Market continues to run weak, When Molybdenum Market Turn A Corner?

Today, the domestic molybdenum market continues to show a downward trend, the market overall wath-and-see atmosphere is strong, steel bidding continues to pressure the price, the lack of real single transaction, market sentiment is still biased towards pessimism, due to the iron plant cost upside down, most enterprises suspend the quotation, are based on a single discussion, today's mainstream spot cash offer at 330-335,000 yuan/ton.

Molybdenum concentrate market, molybdenum concentrate market continues to be weak stalemate, steel prices continue to decline, iron plant quotation weakened. With the decrease of new orders, the operating rate of ferro molybdenum enterprises decreases, and the overall confidence of the raw material market is insufficient. Part of the focus of bargaining continues to decline, and the downstream procurement is affected by the financial pressure, and the procurement is relatively cautious, and the market shows a situation of no market with prices. Today 45% molybdenum concentrate quote 5280-5310 yuan/ton.

In terms of steel recruitment, most of the representative steel recruitment recently delayed the approach, the pessimistic mood of the market, today Baosteel approach to bid 60 tons of ferro molybdenum, continue to pay attention to the following bid opening situation.

In terms of the international market, recently the international molybdenum market took the lead to stop falling and stabilize, the international molybdenum market inquiry and transaction gradually active, yesterday the low price of western molybdenum oxide continued to rise, Western molybdenum oxide $34-34.5 / lb molybdenum has reached a deal.

On the whole, there is a lack of effective transaction guidance in the market trend, and obvious differentiation in the mentality of buyers. The upstream and downstream game situation in the domestic market continues, and supply and demand are weak. The short-term molybdenum market will continue to operate in a weak position, waiting for steel to enter the market for guidance.