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Ferromolybdenum costs have edged up, and market quotations remain relatively firm.
Release date:
2023-09-05
Today, mainstream ferromolybdenum quotes remain steady at RMB 224,000–231,000 per tonne. Steel tender prices have edged up slightly in some regions; yesterday’s tender range was RMB 223,000–227,500 on a banker’s acceptance basis. Overall, securing purchases at lower price levels remains somewhat challenging, while ferromolybdenum prices are trending steadily higher. Tender prices for ferromolybdenum have changed little, yet mills show limited willingness to supply at low price points. Following inquiries yesterday, Jiangsu steelmakers mostly quoted cash prices in the RMB 225,000–226,000 range. Meanwhile, in the spot market, retail transactions at cash prices of RMB 226,000–228,000 have been concluded in small volumes. With raw material costs rising once again, ferromolybdenum prices continue to find solid support, and with end‑user steel mills persisting in their purchasing activity, market quotations remain firm as traders await follow‑up from steel tenders.
Today, the mainstream quoted price for ferromolybdenum remains at RMB 224,000–231,000 per tonne. Steel tender prices have edged up in some regions; yesterday’s tender range was RMB 223,000–227,500 per tonne on a banker’s acceptance basis. Overall, securing purchases at lower prices remains somewhat challenging, while ferromolybdenum prices are trending steadily higher.
Molybdenum‑ferrosteel tender prices have remained largely unchanged, but mills are reluctant to supply at lower price levels. Following yesterday’s inquiries, Jiangsu steelmakers mostly quoted cash prices in the range of RMB 225,000–226,000 per ton. Meanwhile, in the spot market, retail transactions were concluded at cash prices of RMB 226,000–228,000 per ton, with a few deals executed at these levels.
Raw material costs have risen again, providing solid support to ferromolybdenum prices. Coupled with continued purchasing by end‑user steel mills, ferromolybdenum quotations remain firm as the market awaits follow‑up steel procurement tenders.
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