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Stronger wait-and-see attitude after the vendor in Molybdenum market


    The medium size steel plant of this round was almost end, the market was quiet now. The Japan station learned from the mining enterprise that it's more difficult to sell, most company are delaying the procurement, waiting to see if it’s possible to decline. The molybdenum oxide was quote at $6.1-6.5/lb moly, equal to 975 RMB/t. Since they are afraid it will be down less than $6/lb moly, so this price was not attractive.

    For the ferro molybdenum, it’s also difficult to make a deal, some large size steel plant make an acceptance bidding at 62,900RMB/t. The operation was seriously impacted by this price, it’s quote at 66,000-68,000yuan/t in the spot market, with limit turnover. Some small size enterprise has stopped the production, it would be difficult to turn better in a short term, the manufacturer may have a good preparation for this.