Ferromolybdenum prices consolidated. Buying is not very active.

1、Ferromolybdenum market consolidated at a high level. On June 29, the mainstream quotation was $34,500-$35,190/ton (FOB), down $207/tonne.

There is not much trading in the market, and a small number of transactions are carried out on the edge of $34,500 / ton(FOB). A number of steel mills tendered, but none of them have temporarily stabilized prices yet, and the supply and demand game in the ferromolybdenum market was fierce.

2、Ferromolybdenum plant quotations are currently concentrated in cash $34,780-$34,920/ton(FOB).However, the quotations of traders for bulk cargoes are slightly lower, and the quotations of some scattered cargo sources are even lower than $34,500/ton(FOB).Some traders ordered purchases, and there were not many transactions in the market.The wait-and-see atmosphere in the market is strong, just as the end of the month is about to start the beginning of the month, the molybdenum market is waiting for the release of rigid demand.

3、According to the observation and analysis of Hainan West Asia Group. Raw material costs fell slightly. International raw material prices have also declined. Local demand in the ferromolybdenum market has been delayed. The terminal waits and sees for now, and the ferromolybdenum market continues to operate weakly.