Since the price of the Japanese molybdenum concentrate has stabilized and rebounded on July 9, the strong trend for two consecutive weeks has brought some confidence to the upstream and downstream products of the molybdenum industry chain. It also boosted the main products of molybdenum downstream in this week, and the price increase has finally spread from the raw material end to the downstream molybdenum chemical products.
The shortage of raw materials increase molybdenum price in this current round
Some molybdenum mines have reduced production significantly since July, which leads to a reduction in molybdenum concentrate production from this month to next month. Since the second week of July, the difficulty in purchasing molybdenum concentrates has gradually increased, prompting the continuous increase of molybdenum concentrates price.
Molybdenum iron, ammonium molybdate is boosted by cost
The main ferro molybdenum enterprises have raised their prices to 10.8-11 million yuan/ton today. Since the beginning of July, the high-quality molybdenum concentrate has been “difficult to find a product”, which has caused the current 60B ferro molybdenum spot to be scarce. The main manufacturers are reluctant to sell at a low price. Under the background of many factors such as the low spot of ferro molybdenum, the further increase of raw material cost, and the light purchase of terminal steel mills in the middle of the month, the price of ferro molybdenum has risen more passively, requiring high-priced wholesale and retail transactions to support the current price.