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Downstream stainless steel orders continue to release, which is expected to stimulate a rise in molybdenum prices

  • Mosten
  • 02 Aug

On July 26, the China Special Steel Association released China stainless steel crude steel statistics for 2019. The apparent consumption of stainless steel in the first half of 2019 was 11.929 million tons, an increase of 1.575 million tons, or 15.21 percent, compared with the same period last year. Minsheng Securities released in July 29 non-ferrous metal industry research report pointed out that the strong Mo price has been supported. At the beginning of July, the bidding standard of steel mills was concentrated, the purchasing willingness of downstream steel mills was active, the spot market continued to be tight, and the price of Mo strengthened. In July, some mining equipment will enter the rainy season inspection period in August, the overall Mo supply is tight in the second half of the year, and the demand for stainless steel is expected to increase slightly in the second half of the year.

Under the supply and demand of supply and demand, the Mo price is expected to remain high in the second half of the year, and there is still room for short-term Mo price to go up. Tiantou Fund analysis believes that stainless steel is an important area of downstream consumption of Mo, downstream orders continue to release, is expected to stimulate the price of Mo to continue to rise. Scarce metals are very small, difficult to extract and very important metals in the crust, such as rare earth, tungsten, antimony, tin, Mo, indium, germanium, gallium and so on. Most of them are necessary added metals for the production of special alloys. Because of its excellent physical and chemical properties, electrical properties and so on, it is widely used in industry. Because of its characteristics of "less, small, fine and wide", it is called modern "industrial vitamin", which plays an important role in industrial civilization and can not be replaced. Taking Mo as an example, about 75% of the worldundefineds Mo products are used in the steel industry in the form of Mo oxide or Mo Fe. According to the latest national projects announced by the National Development and Reform Commission, such as infrastructure, manufacturing, real estate projects, the number of steel, Mo mining demand will continue to bring huge development and investment opportunities for infrastructure, iron and steel, Mo industry and other industries. Under the support of continuous exuberance in demand and tight supply of raw materials, the domestic and foreign Mo markets may continue to maintain a steady and positive trend in the second half of the year.

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