I.There Are Active Inquiries in the Moly Concentrate Market

The activity in the domestic moly concentrate market has increased. Yesterday, a mine in Jilin sold moly concentrate(Mo%>50) at 3750 yuan/mtu($23.40/lb). The bulk cargo market has active inquiries, and downstream inventory replenishment is mostly based on rigid demand. Traders are unwilling to sell at low prices, making it difficult to purchase moly concentrate. The negotiated transaction of moly concentrate(Mo%=45-50) in the bulk cargo market is around 3720 yuan/mtu($23.21/lb).

"There has been an increase in market inquiries, with inquiry prices around 3700-3720 yuan/mtu($23.09-$23.21/lb), but traders' willingness to ship is also not high. "said a trading company.

"I feel that the downstream has stabilized a bit. I still have two trucks with a cost of over 3800 yuan/mtu($23.71/lb) for moly concentrate, but I will not ship them temporarily. I am preparing to wait a little longer. "said another trading company.

II.Ferromoly Enterprises Are Undergoing Maintenance Successively

Yesterday, domestic ferromoly enterprises mainly quoted between 240,000-242,000 yuan/mt($55.02-$55.48/kg). The transaction price in the bulk cargo market ranges from 239,000 to 240,000 yuan/mt($54.79-$55.02/kg). Ferromoly enterprises are gradually shutting down for maintenance. The enthusiasm for buying in the market has increased, and confidence has rebounded somewhat.

"The market has become more active. The bidding prices of steel mills have a supportive effect on the market, but the price of ferromoly is still inverted. "said a company in Henan Province.

"Steel mills are entering the market one after another. After the release of the current price of 235,000 yuan/mt($53.87/kg), I feel that the subsequent price is not easy to go down. However, this price does not correspond to the cost. There are no low-priced moly concentrate in the market. "said a company in Liaoning Province.

III.The International Moly Oxide Market Has Slightly Declined

The wait-and-see sentiment in the international moly market has increased recently. Market bargaining level has slightly decreased. Yesterday, there was a small amount of transaction for western moly oxide reached at $22.50/lb Mo at Busan port, fell by $0.1-$0.15/ Mo compared to the previous trading day.

"Yesterday, the market heat subsided again, inquiries decreased, and the wait-and-see sentiment heated up. We finally achieved only a small amount of transactions at a price of $22.5/lb Mo at Busan port. "said an international moly enterprise.

"While buyers in the international market are adopting a wait-and-see attitude, they are also choosing opportunities to replenish inventory. Therefore, we believe that the international moly price will be slightly weaker, but the space is limited. "said another international moly company.

In summary, steel mills have recently entered the market in a concentrated manner, and bidding prices have stabilized to some extent. Market confidence has recovered, driving an increase in inquiries. However, the prices of raw materials remain firm, and the situation of ferromoly inversion still exists. Ferromoly enterprises continue to shut down for maintenance. It is expected that the market will continue to move forward in the game in the near future.