China's domestic ferromolybdenum market has entered a stable trend over the past week, in a context of a slight reduction in demand levels. On the other hand, the domestic ferrovanadium market has continued on its downtrend.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Ferromolybdenum | Mo60 | Jinzhou | 147,000 | 0 | 22,172 | 0 |
Ferrovanadium | V50 | Panzhihua | 940,00 | -2,000 | 14,178 | -302 |
Over the past week China's domestic ferromolybdenum market prices have remained stable in general. The mainstream quotations in the market in Jinzhou are at RMB 145,000-148,000/mt ($21,870-22,322/mt), unchanged week on week. Meanwhile, market quotations for domestic origin molybdenum concentrate (45 percent grade) are currently at RMB 2,150-2,200/mtu ($324-332/mtu), unchanged week on week. International ferromolybdenum prices have continued to move up, with the current prices of bottled molybdenum oxide at $16-16.2/lb and with the European delivery prices of 60 percent Mo at $40-41.5/kg Mo.
China's domestic ferromolybdenum market has been stable over the past week, though with offers at the lower end of the price range increasing slightly. Lately, the volume of purchases from domestic steel mills has been relatively small and the inventories held by steel mills have remained at high levels. As a result, current market demand started to decline. For the time being, the purchase prices of steel mills are standing at the range of RMB 145,000-147,000/mt ($21,903-22,205/mt). Molybdenum concentrate prices in the market have also been stable lately, while the transaction volume for molybdenum concentrate has started to dip. Looking at the current situation, the ferromolybdenum market is now in a more stable phase, though it could fall slightly in the coming period.
Ferrovanadium prices in China have continued to follow their downward trend over the past week. Currently, domestic quotations of ferrovanadium (50 percent) are now in the range of RMB 93,000-95,000/mt ($14,027-14,329/mt), down RMB 1,000-2,000/mt ($151-302/mt) week on week, with prices of vanadium pentoxide (98 percent flakes) standing at RMB 83,000-85,000/mt ($12,763-13,063/mt), down RMB 2,000/mt ($302/mt) week on week. Meanwhile, in Europe, the ferrovanadium market has picked up slightly. Quotations of vanadium pentoxide (98 percent flakes) are at $6.8-7.1/lb, while market quotations of ferrovanadium (V70-80) are at $29.2-30.5/kg.
The ferrovanadium market has continued to follow a weak trend, in line with the decrease in prices of vanadium pentoxide. Lately, most mills' purchase prices of ferrovanadium have decreased to RMB 93,000/mt ($14,027), down from the previous week. As a result, retail prices of ferrovanadium have also dipped. Currently, market players are not optimistic about the prospects for the market trend in the coming period and it is thought that prices of ferrovanadium may continue to fall.