Domestic molybdenum concentrate market enquiries increased last weekend. According to market participants, molybdenum concentrate was difficult to purchase in the weekend. Current mainstream domestic ferromolybdenum offer is 127000-130000yuan/mt, which is stable.

  According to a ferromolybdenum manufacturer in Henan province, he didn’t conclude any transactions last weekend, and enquiries were also rare, with current offer at 126000yuan/mt. Another ferromolybdenum manufacturer there shipped out 400-500tons of cargoes in succession at 125500-126000yuan/mt, which are mainly transactions among traders. At present, the traders don’t have much inventories, and their offer for bulk cargos are 127000yuan/mt, which is negotiable. A ferromolybdenum manufacturer in Jinzhou city shipped out about 10tons of cargos at 128000yuan/mt. A trader there said his inventories was bought at high price, and no transactions were concluded last weekend. He also said the space for ferromolybdenum price to drop is limited, and the aftermarket is not optimistic, so he didn’t plan to purchase.

  It’s learned that today a steel mill plan to purchase about 700-800tons of ferromolybdenum, and the tender price will be announced tomorrow.

  International molybdenum market is stable, and European molybdenum oxide price is stable at 14USD/pound, but the enquiries are quiet.

  In general, ferromolybdenum price is expected to be stable recently on the back of raw material, but aftermarket will not be stable because of potential demand.