[Ferro-Alloys.com]International molybdenum material rebound, prices has recovered slightly, but the market remains alert. Domestic ferromolybdenum price dropped last week, affected by poor performance of steel mills. At the same time, ferromolybdenum manufacturers transferred the pressure to raw material market, resulting the decline in transaction prices of molybdenum concentrate. Today’s ferromolybdenum reference price from Ferro-Alloys.com was at RMB 112,000-115,000 /ton. Affected by that, trading for molybdenum powder reduced and thus domestic molybdenum market was weak on the whole.

The quotation from mines and actual transaction prices of ferromolybdenum are completely not in the same pace. Though molybdenum concentrate supply is relatively tight, ferro molybdenum manufacturers are very reluctant to sell and the demand also decline. Considering the unbalanced supply and demand, molybdenum concentrate price still has space to decline.

In the same period, the steel market is not good enough, which will affect the bidding of steel mills.Most ferro molybdenum factories now have enough orders, plus high-price raw materials, it is expected that molybdenum price will limited scope for a big pullback.

• [Editor:Jiang Li Juan ]