Ferromolybdenum trades increase and bidding price of raw material is high

www.ferroalloynet.com:A large number of steel demand release, and it’s difficult to purchase at low price,and the overall negotiated price rise. Mainstream offer of ferromolybdenum today is 112,000-115,000 CNY/Ton, and yesterday the market price is 111,000-112,000 CNY/Ton in cash and there are some transactions, but people in the market have lowacceptance of high price.

Bidding prices rose slightly, and the focus has moved up in bulk market, while thepart of back-end is hesitant to buy, but the factory are reluctant to sell at low priceobviously. Especially LongYu bidded for shipment today, and round price is 1720 CNY/Ton in cash, higher 70 CNY/Ton than minimum price, and some factories even said today ferromolybdenum price may go up to 114000 CNY/Ton in cash.

Some factories continue to be optimistic about the future market, and the quotationof raw material is high. The market cost of ferromolybdenum increases, so the price increases, and people in the market wait for the follow-up transaction.