The demand for molybdenum in the Asian market is active, with buyers from China entering the market and prices slightly recovering. The daily distribution price of Procter's molybdenum oxide is 8.25-8.35 US dollars per pound of molybdenum, rising to 8.3-8.5 US dollars per pound of molybdenum; The daily quotation for European molybdenum iron is $20.1-20.35 per kilogram of molybdenum, rising to $20.1-20.4 per kilogram of molybdenum.

On August 28th, Platts Assessment was closed due to a public holiday. Yesterday, a European trader sold molybdenum oxide at a warehouse in Busan at a price of $8.35 per pound of molybdenum. A European trader stated that Chinese steel mills have frequent purchases and are strengthening imports of molybdenum oxide and ferromolybdenum from China. A Chinese trader said that paying $8.5 per pound of molybdenum oxide is still profitable. An Asian manufacturer stated that the market is full of confidence. The demand for stainless steel market is strong due to the strengthening of oil and gas construction.

In terms of ferromolybdenum, it is reported that a German factory sold DDP at a price of $20.2 per kilogram. Austrian steel mill trades at $20.1/kg molybdenum. The current quotation is as high as 20.4 US dollars per kilogram of molybdenum.

The domestic molybdenum concentrate market has seen a surge in transactions and prices are gradually increasing. The market is gradually improving, with an increase in inquiries. At present, the mainstream quotation for general grade molybdenum concentrate is 1380-1400 yuan/ton, and the mainstream quotation for high-grade molybdenum concentrate is 1400-1430 yuan/ton.

The domestic molybdenum iron market continues to increase in volume due to steel bidding, with prices exceeding expectations, and the molybdenum iron market prices are steadily rising. The current mainstream quotation is between 96000 and 99000 yuan per ton.