Asian Metal visits Jinzhou Xinghe Metal, Beipiao Wanhong Molybdenum, Jinzhou Xingkaiyue Molybdenum and Liaoning Xinhua Long Dayou Molybdenum

On 19 November, 2020, Mr. Hao Zhao, Sales Director of Asian Metal, and Mr. Jeven Shi, molybdenum analyst of Asian Metal, visited Jinzhou Xinghe Metal Co., Ltd., Beipiao Wanhong Molybdenum Industry Co., Ltd., Jinzhou Xingkaiyue Molybdenum Industry Co., Ltd. and Liaoning Xinhua Long Dayou Molybdenum Industry Co., Ltd., and they were warmly received by these enterprises.

On the morning of 19 November, Mr. Hao Zhao and Mr. Jeven Shi paid a visit to Jinzhou Xinghe Metal Co., Ltd. first and exchanged views on steel mills' demand for ferromolybdenum with Mr. Jianghong Xia, General Manager of Jinzhou Xinghe Metal, Ms. Li Liu, Deputy General Manager of Sales, and Ms. Ning Wang, International Marketing Manager. According to Mr. Jianghong Xia, China took effective measures to curb COVID-19 and strong demand for ferromolybdenum from Chinese steel mills supported steady operation of molybdenum market. Mr. Xia also noted that raw material supply shortage was alleviated in Chinese market with international supply of molybdenum concentrate and molybdenum oxide, which favored benign development of Chinese ferromolybdenum enterprises. Jinzhou Xinghe Metal highly recognized the fair, objective and timely market information provided by Asian Metal and expressed the willingness of keeping close contact with Asian Metal in sustainable development of molybdenum market.

Then, Mr. Hao Zhao and Mr. Jeven Shi came to Beipiao Wanhong Molybdenum Industry Co., Ltd. and compared and analyzed raw material supply in 2019 and 2020 with Mr. Shenghua Guo, President of Beipiao Wanhong Molybdenum, Mr. Jiansheng Zhang, Deputy General Manager, and Mr. Changguo Li, Deputy General Manager. The two sides were of the opinions that Chinese market saw increasing molybdenum raw material supply in 2020 compared to 2019 as demand in international market was restrained this year and a large number of overseas molybdenum raw material entered Chinese market, which was of steady demand, and prices went down gradually from the beginning of 2020. As a ferromolybdenum producer, Beipiao Wanhong Molybdenum Industry affirmed the comprehensive and timely market information about both Chinese market and international market provided by Asian Metal and hoped to keep in close touch with Asian Metal in regard of changing market trends.

On the afternoon of 19 November, Mr. Hao Zhao and Mr. Jeven Shi were on a visit to Jinzhou Xingkaiyue Molybdenum Industry Co., Ltd. and exchanged views on Chinese ferromolybdenum trading market with Mr. Hongwei Song, General Manager of Jinzhou Xingkaiyue Molybdenum. Mr. Hongwei Song told them that international market saw poor demand due to COVID-19 while Chinese market recorded relatively steady demand supported by the well-controlled pandemic, but the trade volume of ferromolybdenum in 2020 was lower than that in 2019 on the whole. Jinzhou Xingkaiyue Molybdenum highly recognized the fair, objective and timely market information provided by Asian Metal and looked forward to further cooperation with Asian Metal in terms of sustainable development of molybdenum market.

Finally, Mr. Hao Zhao and Mr. Jeven Shi visited Liaoning Xinhua Long Dayou Molybdenum Industry Co., Ltd. and had all-round exchanges on Chinese ferromolybdenum, molybdenum chemicals and molybdenum powder markets with Mr. Shaoqiang Zhang, General Manager of Liaoning Xinhua Long Dayou Molybdenum, and Mr. Hui Song, General Manager of the company. Mr. Shaoqiang Zhang stated that Chinese market witnessed relatively stable demand for ferromolybdenum supported by the well-controlled pandemic, and Mr. Hui Song noted that demand for molybdenum chemicals was weaker than last year and price rebounds were mostly supported by rising raw material prices rather than demand. As a producer of molybdenum products, Liaoning Xinhua Long Dayou Molybdenum believed that schedules of raw material procurement and product sales made impacts on profit margin and market information was of great significance. Mr. Shaoqiang Zhang highly recognized the information service provided by Asian Metal and anticipated further close cooperation with Asian Metal.