China Tungsten Market Analysis

The price of molybdenum concentrate, sodium molybdate and ammonium molybdate continues to be steady. Last week, domestic molybdenum market showed signs of recovering. Shipments in miners increased, trading volume is improved and molybdenum concentrate price remained strong. Biddings in the steel mills entered and ferromolybdenum price is expected to rise. As for molybdenum alloy and chemical market, markers are waiting the coming of heat reason to release the demand, and buyers are reluctant to sell. Overall, the supply and demand in the molybdenum market are improving. Insiders are generally optimistic about the performance of molybdenum prices in September. We suggest paying close attention to changes in fundamentals in the afternoon market.