Date: Mar 1, 2019
www.ferroalloynet.com: The steel mills started bidding on ferromolybdenum, although local enquiries bargain, it is difficult to purchase at low prices. The downward resistance of ferromolybdenum is enlarging; the transaction tends to be stable. The transaction price of steel is CNY 117,000/t to CNY 119,000/t, while that of retailing goods is CNY 118,000/t to CNY 121,000/t.
Some steel mills found it difficult to negotiate the price, and most of them were reluctant to sell.
And with the high price of raw materials, it is expected that the quotation of large-scale mines in northeast China may continue to rise, so it is impossible for factories to sell at a low price. Besides, the output of ferromolybdenum decreased as well as low inventory in January and February. As the recent demands from some small companies have increased, some factories are reluctant to sell for the shrinking stocks.
