Current domestic ferromolybdenum market offer is 127000-130000yuan/mt, with rare enquiries and transactions. Most participants are waiting and seeing.

  According to a ferromolybdenum manufacturer in Liaoning province, he concluded a few transactions at 129000yuan/mt. The price can be discussed if purchase volume is considerable. Some ferromolybdenum manufacturers in Jinzhou area have already cut or stopped production, with little inventories. Most offers are 128000-130000yuan/mt, with few transactions of bulk cargos. According to a trader in Hebei province, he has been shipping out recently, but the volume is small. A trader in Henan province said that he hasn’t shipped out bulk cargos recently. Steel mills significantly cut production on the price decline of steel, so their purchase of ferromolybdenum reduced significantly. The aftermarket is not optimistic.

  Enquiries and transactions of upstream raw material are weak, but cargo holders are reluctant to ship out. The market situation is unstable, and ferromolybdenum market is facing pressure from different aspects, so most ferromolybdenum manufacturers are cautious when purchasing.

  In general, ferromolybdenum market will not turn up in near future, because market demand is facing bottleneck.