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China Molybdenum Concentrate Price - February 3, 2021

Molybdenum market quotation in China: ferro molybdenum, molybdenum concentrate and molybdenum oxide prices start to show sign of rise in early February. 

Trading activity is affected by the approaching Spring Festival holiday and continued spread the epidemic, but driven by the rising international molybdenum price, domestic holders are reluctant to sell at low prices and downstream buyers have a slight desire to purchase.

The molybdenum concentrate market has improved slightly on the whole. Rapid increased trading activity in overseas markets has stimulated the buying sentiment of downstream consumers to a certain extent, so molybdenum concentrate price has advanced to 1,530 yuan/ton.

In the ferromolybdenum market, it features high prices but no sales. With the dual support of strong raw material prices and rising international molybdenum oxide prices, the mainstream ferromolybdenum quotation is relatively impressive at around 106,000 yuan/ton, but the speed of bidding by steel companies is slow, resulting in scarce trading volume.

In the molybdenum chemical and its products market, supply and demand are slightly balanced. As the festive atmosphere increases, buyers and sellers are less motivated to enter the market. end customers are cautious in taking goods, and suppliers have a strong sense of profitability.

In terms of news: China Iron and Steel Association's key statistics steel companies achieved sales revenue of 4.7 trillion yuan from January to December 2020, a year-on-year increase of 10.9%; realized profits of 207.4 billion yuan, a year-on-year increase of 6.6%.

Prices of molybdenum products on February 3, 2021

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