Bulk ferromolybdenum market thinly traded last weekend, and most market participants are waiting and seeing. Currently, domestic mainstream offer of molybdenum is 146000-149000 / mt, while part of ferromolybdenum transaction prices have been lower than 146,000yuan RMB / mt.
    A ferromolybdenum producer in Liaoning province said the market enquiries are rare last weekend, although they had already reduced the offer. A ferromolybdenum producer in Henan province said there was no transaction last weekend and molybdenum concentrate prices went down again now, but their room for the price to drop is limited. According to a producer in Hebei, bulk ferromolybdenum is not in transaction at all, and they mainly supply to steel who is their old costumer. It is learned that bulk ferromolybdenum price has fallen through 145,000 yuan / mt, but the transactions are still rare.
    Recently there are not many domestic steel mills tender for ferromolybdenum, with tender prices lower and lower. According to a stainless steel plant officer, current sales of stainless steel are facing great pressure, with considerable inventories, which in some extent affected the demand for molybdenum. In addition, domestic and international macroeconomic trends affected consumers confidence to molybdenum market significantly.