SMM December 30 News:
As New Year's Day approaches, the domestic molybdenum market has shown stable transactions and prices.
【Quotation Overview】
45% Molybdenum Concentrate: 3,590-3,620 yuan/mtu
50% Molybdenum Concentrate: 3,620-3,650 yuan/mtu
60% Ferromolybdenum: 232,000-235,000 yuan/mt
316L/2B Coil (Wuxi): 23,600-23,800 yuan/mt Grade 1 Ammonium Tetramolybdate: 220,000-223,000 yuan/mt
Grade 1 Molybdenum Powder: 415-423 yuan/kg
【Market Dynamics】
Amid strong sentiment to stabilize prices among molybdenum mines, suppliers of molybdenum raw materials maintaining a sentiment to stand firm on quotes due to high-cost inventory, and stable prices with increased procurement of ferromolybdenum by steel mills, molybdenum prices are supported by costs against declines but are restrained by downstream resistance to increases.
It is expected that before the holiday, molybdenum prices are unlikely to decline, with a slight upward adjustment in quotations possible.
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The off-season gradually deepened toward the year-end, and steel mills once again lowered their guidance prices today [SMM Stainless Steel Spot Daily Review].
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