The eighth annual conference of tungsten, molybdenum & vanadium is over. The conference concludes that the industry will be prosperous in a long run, but at the moment is still under the process of reshuffling, merging and reorganization. The near challenge is not over yet.

　　The international market is stable nowadays. The molybdenum oxide is at $4.9-$5/lb, and the ferromoly is around $12.6-$12.9/lb. The previous arbitrage window is closed. With the wave of import becomes calm again, the oversea challenge is lessen temporarily.

　　The China State Reserve Bureau holds a molybdenum oxide tender about 7,300 mt. Only 5,300 mt is concluded because of high quality requirement and relatively low price. China Molybdenum gets 2,800 mt, China New Dragon gets 1,400 mt and JDC gets 1,100 mt. The price is at Yuan 805/mtu, which equals to $5.76/lb.

　　The domestic market is stable but gloomy as the harsh reality is still going on. The domestic molybdenum concentrate is at Yuan 690-700/mtu, which is equivalent to $4.94-$5.01/lb; the metallurgical molybdenum oxide is at Yuan 760-780/mtu, which is equivalent to $5.44-$5.58/lb; the ferromolybdenum is at Yuan 52,000-55,000/mt, which is equivalent to $13.68-$14.47/lb.

　　The actual trade of molybdenum concentrate is around Yuan 660-680/mtu ($4.72-$4.87/lb), and the actual trade of ferromoly is around the lower range. Every late month, there are many tenders from steel mills, but most mills have delayed this time. A steel mill from Shanxi has hold a tender for about 450 mt. Shanghai, Jiangsu, Hubei, Tianjin, Zhejiang and other steel mills are coming this week for about 2,000 mt. The price is still a question mark for the market.

　　There is a saying that “every time there is a tender, the price is lower.” Is the tender going down again? That’s a question.