International price of ferro molybdenum

The international molybdenum price has continued to rise.
In the previous period, the international molybdenum price fell sharply, and a large number of holders sold their goods, resulting in a shortage of spot market supply. As the decline expanded and prices rebounded slightly in the past two days, some end-users entered the market for procurement while traders generally replenished their positions as delivery dates approached for their short positions from earlier periods. The international molybdenum market experienced an oversold rebound. The international molybdenum price has continued to rise, with an expanding increase in the international ferromolybdenum price. Currently, European ferromolybdenum is priced at RMB 197700-218300 per 60 metric tons excluding taxes while Chinese domestic ferromolybdenum trades at RMB 171800-180000 per tonne with obvious pricing advantages when considering export opportunities that have led to partial transactions being reached which have improved domestic sentiment.

With the recovery of the Chinese market and the opening of the export window, the rising momentum of the international molybdenum price has slowed down. Hainan West Asia Import and Export Group will continue to study the international market and follow up the domestic transaction

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