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Ferro Molybdenum Price - October 26, 2020

Molybdenum market quotation in China: molybdenum oxide, molybdenum bar and ferro molybdenum prices k eep stable on October 26, 2020 when market participants have good expect for the outlook with the impact of increase quantity and price of import of raw materials. 

In the molybdenum concentrate market, the transaction volume has increased. In the case that the raw material itself is not stocked, downstream users’ sentiment in receiving the goods remains unabated, which is the main reason why the low prices on the market are hard to find; in the ferromolybdenum market, the willingness to raise prices is strong. Although the new round of steel tenders has not yet started, with the support of molybdenum concentrate prices, holders have strong rised mentality; in the molybdenum chemical and its product market, the overall operation is stable and the market is not active despite of the improvement of upstream market conditions, and end-user enquiries are still not good, resulting in greater resistance to actual transaction channels.

In mid-October, the social inventory of five major types of steel in 20 cities was 12.16 million tons, a month-on-month decrease of 480,000 tons, or 3.8%. In terms of regions, the inventory in the seven major regions generally showed a downward trend. Among them, the largest decrease was in East China, which decreased by 10,000 tons compared with the previous ten days, a decrease of 4.7%; North China decreased by 90,000 tons, a decrease of 8.1%; Southwest and South China decreased by 7 10,000 tons, down by 2.6% and 2.1%, respectively; the northeast decreased by 60,000 tons, down by 14.3%; the northwest decreased by 40,000 tons, down by 6.7%; and the inventory in Central China remained unchanged from the previous month.

Prices of molybdenum products on October 26, 2020

Picture of ferro molybdenum

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