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China: molybdenum prices rise - manufacturers in anticipation of buying activity

In China molybdenum prices went up: the sellers are trying to capitalize on the upcoming replenishment steel companies stocks. The vast majority of participants in the market have shown an enviable synchronicity: in a short time (almost immediately after the celebration of the Chinese New Year) molybdenum rose and mining companies, and manufacturers of products made of this metal, which did not wait until their own supplies of raw materials, acquired even by the «old» rates, runs out.

Thus, according to specialized media in China, the leading producer of rolled molybdenum, ferromolybdenum and molybdenum powder — «Jinduicheng Molybdenum» — raised selling prices for its metal products to the average for 1000 CNY (about 160.3 USD) per ton. With this premium price of molybdenum from this producer was 119 000−124 000 yuan (19 072−19 873 USD) per thousand kilograms. Approximately the same amount has increased the price of this resource is a competitor «JM» — the company «Jinzhou New China Dragon Molybdenum Co Ltd» (a large Chinese manufacturer of tungsten, molybdenum and rare earth metals). In parallel, 10 CNY per unit content (equivalent to 1.6 US dollars) rose molybdenum concentrate from local mining companies. Thus, the average price of this raw material was 1760−1770 CNY (282.1 USD — 283.7 USD) per ton. «In late February, the producers of stainless steel — with high probability — will actively buy molybdenum products; on it and expect traders «- express their point of view, market analysts nonferrous metals from China. «Most likely, the price of this resource will be supported by customer activity. And some time will show dynamically growing trends, «- experts say.

Molybdenum — transition metal, used mainly for the production of special steels. In particular, according to the «International Molybdenum Association», about one-third of the metal is produced in the world for the additive in the structural alloy steel, more than a quarter — for the production of stainless steel, about 15% — to speed production, or other special tool steel grades. The rest of the molybdenum is the needs of the iron foundry, production of reagents for the chemical industry, lubricants, and pigments.

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