It is learned that there are few market inquiry for MoFe and few transactions are concluded. The current domestic market ferromolybdenum price are maintained at 130000-133000yuan /mt. The market demand is weak, so the price of ferromolybdenum will drop further. In addition, domestic molybdenum concentrate inquiry and transactions were unsatisfactory last weekend, which tend to drop further.

    According to a ferromolybdenum manufacturer in Jinzhou city, current offer is 129,000yuan / mt, with basically no transactions last weekend. According to another ferromolybdenum manufacturer in the region, he sold 3 tons of ferromolybdenum at 128000yuan / mt. A third ferromolybdenum manufacturer in the area said their crrent offer is 128000yuan /mt, which is negotiable if the purchase volume is considerable.

It is reported that recently a domestic steel mill in East China will invite tender. However, recently domestic steel mill tender prices remained low, domestic market doesn’t expect much from molybdenum tender.

    In summary, the industry participants expects the market price of ferromolybdenum will continue dropping.