Chinese moly concs price refreshes 35-month low

Source: Mysteel Jul 20, 2020 15:30

The price of 45% grade moly concentrates in Central China’s Henan province dipped further during the past week to reach a 35-month low of Yuan 1,230/mtu ($176/mtu) including 13% VAT as of July 17, according to Mysteel’s assessment. Domestic moly miners have cut their prices to try and boost sales, a tactic which seems to have been successful as Chinese ferromolybdenum (FeMo) smelters have increased procurement of concentrates saying the prices are becoming cost-effective.

Over July 13-17, moly concentrate prices declinedby another Yuan 40/mtu or 3.1% on week. “Even though current prices are close to their costs, the moly miners are reducing their offer prices aiming to generate more business to help to keep cashflow smooth,”a Shanghai-based market insider said Monday. Until around June,

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