Monthly Molybdenum Market Report Oct 2019

1. Market Highlights

In October, the international market saw sharp decline of prices due to sluggish demand. In Chinese market, raw material molybdenum concentrate prices kept dropping dramatically.Asian Metal Copyright However, prices for molybdenum wire and molybdenum rod tended to be stable as the demand from the end of industry chain was relatively steady.Asian Metal Copyright Ferromolybdenum prices moved down quickly as downstream steel mills forced bidding prices down and raw material prices slid.Asian Metal Copyright In Chinese market, raw material molybdenum concentrate prices kept dropping dramatically.Asian Metal Copyright Due to the great decline of molybdenum concentrate prices, prices for molybdenum oxide, ammonium molybdate, sodium molybdate, molybdenum powder and molybdenum bar went down.Asian Metal Copyright0lb from RMB1,970mtu USD12.Asian Metal Copyright However, prices for molybdenum wire and molybdenum rod tended to be stable as the demand from the end of industry chain was relatively steady. As price for raw material molybdenum concentrate 50%min continued to decrease by RMB310/mtu (USD2.0/lb) from RMB1,970/mtu (USD12.8/lb) EXW D/P early this month to RMB1,660/mtu (USD10.7/lb) EXW D/P late this month, downstream clients held strong wait-and-see sentiments and the whole market was relatively quiet.

.Asian Metal Copyright7lb EXW DP late this month, downstream clients held strong wait-and-see sentiments and the whole market was relatively quietAsian Metal Copyright