At present, the price of molybdenum concentrate is relatively firm, with high costs. The quoted price of molybdenum iron bulk cargo is still mainly around 220000 yuan/ton in cash, with slightly light trading at the beginning of the week. Before the holiday, the opening price of molybdenum iron was accepted at 218500 to 22000 yuan/ton, and the supply and demand game was fierce. The bulk cargo market was on the sidelines.
The shadow of tariffs hangs over the world, causing a huge shock in futures and stock markets, a sharp drop in stainless steel futures prices, a poor steel market, cautious expectations for raw material procurement, and a rise in cautious sentiment in the molybdenum iron market operations.
The direct impact of tariffs imposed by the United States on China on the molybdenum market is limited, as China is the world's largest producer and consumer of molybdenum, with a relatively small proportion of exports. Molybdenum is mainly used in stainless steel, special steel, chemical catalysts, and other products, which are not primarily exported to the United States.
However, the imposition of tariffs by multiple countries worldwide may to some extent affect the export of downstream products containing molybdenum, reduce market liquidity, and thus affect the terminal demand of the domestic molybdenum market, leading to a decrease in demand. Therefore, the operation of the molybdenum market in the future still needs to pay attention to the impact of tariffs on the steel industry.
