China Commodity Marketplace
Domestic molybdenum prices have been rising rapidly driven by tightening supply due to increasing mine maintenance. At present, quotations for standard grade molybdenum concentrates has surged to RMB 1,640~1,650/MTU and quotations for high-grade are RMB 1,660~1,670/MTU, which is likely to hit the RMB 1,700/MTU level soon.
Rising molybdenum concentrates prices have buoyed the production costs of FeMo. With escalating environmental pressures, the shortfall in FeMo supply is likely to worsen. As a result, domestic FeMo prices have climbed significantly to RMB 115,000~118,000/standard t level, with some tentative high quotations at RMB 120,000/standard t this week.